Mercialys burns through price guidance to debut at 205bp

19 Mar 2012

Mercialys, the French property group that manages retailer Casino’s properties, made its bond market debut on Friday, raising €650m of seven year money.

Mercialys, rated BBB with a stable outlook by Standard & Poor’s, is one of the biggest owners of shopping centres in France, with 120 sites. It was spun out of Casino and floated in 2005, though Casino remains its majority shareholder.

The company held a three day roadshow in ...

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