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The senior 10-year notes carry a 1.5% coupon.
US insurer MetLife backs the firm’s drive for sustainability as sole investor in the privately placed issue.
Sponsor-led securitisations can be challenging, but are a competitive financing option, says Reed Smith partner Iain Balkwill
Al Rayan Bank’s first Islamic residential mortgage-backed securitisation in the country is expected to pave the way for further transactions of this type.
Listed Italian real estate company Beni Stabili has raised €300 million through the issue of senior unsecured bonds, in a deal designed to optimise its funding strategy.
Singapore’s GLP has raised capital for its purchase of Gazeley by tapping Chinese President Xi Jinping’s drive to improve trade with Europe.
Santander has issued a £916.8 million (€1 billion) commercial real estate loan securitisation, in one of the first synthetic transactions of UK commercial property assets since the financial crisis.
The European CMBS market has worked on a slow burn this year even by its own standards, with the first public deal creeping in just weeks before the end of 2017.
Bank of America Merrill Lynch’s UK CMBS deal shows investment banks remain determined to finance European real estate in this late-cycle market.
The French real estate investment trust Klépierre has raised €500 million through a bond issue.
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