Unibail-Rodamco-Westfield (“URW”) announces the successful refinancing of Westfield Stratford City
July 18 2019 - 3:00PM
Paris, Amsterdam, July 18, 2019
Press release
Unibail-Rodamco-Westfield (“URW”) announces
the successful refinancing of Westfield Stratford City
Westfield Stratford City Finance No.2 PLC this
week successfully priced a single tranche £750 Mn secured fixed
rate bond, with a 7-year maturity and a 1.642% coupon, to refinance
the existing CMBS issued in 2014 and maturing in 2019, with a
2.6925% fixed coupon (including swaps in place).
The coupon of the new bond is the lowest ever
for a GBP benchmark issuance in the real estate sector.
Strong demand resulted in a total order book in
excess of £2.3 Bn.
S&P and Fitch have assigned preliminary
ratings to the bond of AAA (sf) and AAAsf, respectively.
URW has a 50% stake in the Westfield Stratford
City joint venture. The asset is managed by URW.
For further information, please
contact:
Investor Relations Samuel WarwoodMaarten
Otte +33 1 76 77 58 02 Maarten.otte@urw.com
Media Relations Tiphaine Bannelier-Sudérie +33 1 76
77 57 94 Tiphaine.Bannelier-Suderie@urw.com
About Unibail-Rodamco-Westfield
Unibail-Rodamco-Westfield is the premier global
developer and operator of flagship shopping destinations, with a
portfolio valued at €65.2 Bn as at December 31, 2018, of which 87%
in retail, 6% in offices, 5% in convention & exhibition venues
and 2% in services. Currently, the Group owns and operates 92
shopping centres, including 55 flagships in the most dynamic cities
in Europe and the United States. Its centres welcome 1.2 billion
visits per year. Present on 2 continents and in 12 countries,
Unibail-Rodamco-Westfield provides a unique platform for retailers
and brand events, and offers an exceptional and constantly renewed
experience for customers. With the support of its 3,700
professionals and an unparalleled track-record and know-how,
Unibail-Rodamco-Westfield is ideally positioned to generate
superior value and develop world-class projects. The Group has a
development pipeline of €11.9 Bn.Unibail-Rodamco-Westfield
distinguishes itself by its Better Places 2030 agenda, that sets
its ambition to create better places that respect the highest
environmental standards and contribute to better cities.
Unibail-Rodamco-Westfield stapled shares are listed on Euronext
Amsterdam and Euronext Paris (Euronext ticker: URW), with a
secondary listing in Australia through Chess Depositary Interests.
The Group benefits from an A rating from Standard & Poor’s and
from an A2 rating from Moody’s.
For more information, please visit
www.urw.comVisit our Media Library at
https://mediacentre.urw.comFollow the Group updates on Twitter
@urw_group, Linkedin @Unibail-Rodamco-Westfield and Instagram
@urw_groupAccess the URW 2018 report at
https://report.urw.com/2018/
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