Aroundtown Issues 500 Million Euros Perpetual Notes To Optimize Capital Structure

Aroundtown SA has issued 500 million euros in perpetual notes with a 5.25% coupon, attracting strong investor interest with an oversubscribed orderbook. The notes will be classified as 100% equity under IFRS and are expected to receive a BB+ rating from S&P. Concurrently, the company is conducting a tender offer to repurchase higher coupon perpetual notes, targeting 2.5 billion euros to lower average coupon rates and enhance funds from operations while maintaining financial stability. AT1.DE shares closed at 3.24 euros, down 0.55%.