Aroundtown SA (DE:AT1) has released an update.
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Aroundtown SA has announced the successful launch of a €650 million unsecured bond, oversubscribed by a factor of seven, with plans to use the proceeds to buy back shorter-term debt. This strategic financial move, which saw the bond attract strong demand with a €4.5 billion book, is aimed at extending the company’s debt maturity profile and supporting balance sheet strength. The transaction is part of Aroundtown’s proactive liability management strategy to support deleveraging and is complemented by the Group issuing €1.15 billion in bonds together with subsidiary Grand City Properties S.A.
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