Logicor places €1.8 billion in inaugural Euro bond issuance
Logicor announces the completion of its inaugural Euro denominated bond transaction having successfully placed €1.8 billion.
The transaction launched on 6 November with three tranches maturing in 2022, 2025 and 2028. The notes were priced with a coupon of 1.5% for the €1.0bn 4 year maturity note, 2.25% for the €500m 6.5 year maturity note and 3.25% for the €300m 10 year maturity note.
The notes rank senior unsecured and have been assigned with a rating of BBB (stable) by S&P Global.
The proceeds of the issue will be used for the group’s general corporate purposes and refinancing existing secured debt.
Simon Clinton, CFO, Logicor says: “This transaction successfully positions Logicor with European and global bond investors for the first time. We have proven our ability to access public capital markets and have significantly broadened our funding sources. We are pleased that investors have demonstrated their confidence in Logicor’s strategy focused on its high quality, well located logistics real estate across Europe and our unsurpassed operational expertise.”
Logicor has made an application for the notes to be listed on the Irish Stock Exchange.
The Notes will be offered only to non- U.S. persons outside the United States pursuant to Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”), subject to prevailing market and other conditions. This press release is not an offer to sell the Notes in the United States. The Notes to be offered have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold, directly or indirectly, in the United States or to or for the account or benefit of U.S. persons, as such term is defined in Regulation S of the Securities Act, absent registration or unless pursuant to an applicable exemption from the registration requirements of the Securities Act and any other applicable securities laws. No public offering of the Notes will be made in the United States in connection with the above-mentioned transaction.
MiFID II professionals/ECPs-only - Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels).
The Notes are not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any retail investor in the European Economic Area (“EEA”). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”); or (ii) a customer within the meaning of Directive 2002/92/EC (as amended or superseded, the “Insurance Mediation Directive”), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the “PRIIPs Regulation”) for offering or selling the Notes or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation. This communication does not constitute and shall not, in any circumstances, constitute an offering to retail investors. The offer and sale of the Notes in any member state of the EEA will be made pursuant to an exemption under Directive 2003/71/EC (as amended or superseded, the “Prospectus Directive”) from the requirement to publish a prospectus for offers of notes. The base listing particulars produced for the offering of the Notes is not a prospectus for the purposes of the Prospectus Directive.
This communication does not constitute an offer of securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the Notes. Consequently, this communication is directed only at (i) persons having professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) persons who are outside the United Kingdom or (iv) persons to whom an invitation or inducement to engage in investment activity within the meaning of section 21 of the Financial Services and Markets Act 2000 (the “FSMA”) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “Relevant Persons”). The base listing particulars produced for the offering of the Notes is being distributed only to and directed only at Relevant Persons. The Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Notes will be engaged in only with, Relevant Persons. The base listing particulars produced for the offering of the Notes and its contents are confidential and should not be distributed, published or reproduced (in whole or in part) or disclosed by any recipients to any other person in the United Kingdom. Any person in the United Kingdom that is not a Relevant Person should not act or rely on the base listing particulars produced for the offering of the Notes or its contents.