Icade’s €500m return popular with pick-up for property

By Jon Hay
10 Apr 2014

Icade, the French listed property company partly owned by Caisse des Depots et Consignations, returned to the bond market on Wednesday with a €500m no-grow seven year bond that was five times oversubscribed.

The company is rated BBB+ by Standard & Poor’s, and made its bond market debut in September. On that occasion Crédit Agricole, HSBC, Natixis and Société Générale led a €500m 5.25 year bond and a €300m 10 year, priced at 100bp and 135bp over mid-swaps.

This week’s deal ...

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