COVIVIO HOTELS (EPA:COVH) - Covivio Hotels: successfull placement of a €500 million 8-year Bond with a 1.0% coupon

Transparency directive : regulatory news

20/07/2021 20:00

PRESS RELEASE

Paris, 20 July 2021

  Covivio Hotels successfully priced a EUR500 million 8-year Bond with a 1.0%
                                    coupon

Covivio Hotels, Covivio's subsidiary dedicated to hotel Real Estate, has
successfully priced a new Bond issue of EUR500 million, maturing in 2029 and
offering a 1.0% coupon.

This operation, oversubscribed more than four times, demonstrates the
investors' appetite for the hotel sector and their strong belief in its ability
to take profit from the rebound in activity when the restrictions are lifted.

In addition to the EUR250 million capital increase done in June 2021 which
allowed for a decrease in LTV (38.6% at late June), this operation will
refinance a part of existing debt, thus strengthening the balance sheet
increasing the debt maturity (by around one year, to 5.3 years) while improving
its profile.

As a reminder, Covivio Hotels is rated BBB+ by Standard & Poor's with stable
outlook.

Application will be made for the notes to be admitted to trading on Euronext
Paris and to the Autorité des Marchés Financiers for approval of the
prospectus. Settlement and admission to trading on Euronext Paris of the Notes
should occur on 27 July 2021.

This press release and the information contained herein do not constitute an
offer to sell or subscribe, nor as solicitation of an order to purchase or
subscribe the notes in any country, in particular in the United States. This
press release and the information contained herein also do not constitute an
offer to purchase nor a solicitation to sell the notes, nor an invitation to
participate to the offer to purchase. The distribution of this press release
may be restricted in some countries and be subject to specific regulations and
persons in possession of this press release should inform themselves about and
comply with any applicable restrictions.

covivio.eu

CONTACTS

Press Relations
Géraldine Lemoine
Tél : + 33 (0)1 58 97 51 00
geraldine.lemoine@covivio.fr

Laetitia Baudon
Tél : + 33 (0)1 44 50 58 79
laetitia.baudon@shan.fr

Investor Relations
Paul Arkwright
Tél : + 33 (0)1 58 97 51 85
paul.arkwright@covivio.fr

Quentin Drumare
Tél : + 33 (0)1 58 97 51 94
quentin.drumare@covivio.fr

ABOUT COVIVIO
Thanks to its partnering history, its real estate expertise and its European
culture, Covivio is inventing today's user experience and designing tomorrow's
city.
A preferred real estate player at the European level, Covivio is close to its
end users, capturing their aspirations, combining work, travel, living, and
co-inventing vibrant spaces.

A benchmark in the European real estate market with EUR26 Bn in assets, Covivio
offers support to companies, hotel brands and territories in their pursuit for
attractiveness, transformation and responsible performance.
Build sustainable relationships and well-being, is the Covivio's Purpose who
expresses its role as a responsible real estate operator to all its
stakeholders: customers, shareholders and financial partners, internal teams,
local authorities but also to future generations and the planet. Furthermore,
its living, dynamic approach opens up exciting project and career prospects for
its teams.

Covivio's shares are listed in the Euronext Paris A compartment (FR0000064578 -
COV) and on the MTA market (Mercato Telematico Azionario) of the Milan stock
exchange, are admitted to trading on the SRD, and are included in the
composition of the MSCI, SBF 120, Euronext IEIF "SIIC France" and CAC Mid100
indices, in the "EPRA" and "GPR 250" benchmark European real estate indices,
EPRA BPRs Gold Awards (financial + Sustainability), CDP (A-), Green Star GRESB
and in the ESG FTSE4 Good, DJSI World & Europe, Euronext Vigeo (World 120,
Eurozone 120, Europe 120 and France 20), Euronext(r) CDP Environment France EW,
ISS ESG, Ethibel and Gaïa.

Notations solicited:
Financial part: BBB+ /     Stable outlook by Standard and Poor's
Extra-financial part:      A1+ by Vigeo-Eiris

COVIVIO HOTELS's latest news

16/05/2024 18:20

COVIVIO HOTELS (EPA:COVH) - Covivio Hotels: successfull placement of a €500 million 8-year Bond with a 1.0% coupon

Transparency directive : regulatory news

COVIVIO HOTELS's latest news

Other stories