Report
Joan Sehim

Altarea : Issuance Focus

Altarea markets € 300m senior unsecured bonds due 2031 (7NC) to finance general corporate purposes. We understand that Altarea is taking advantage of the market conditions, encouraged by the successful issues of many issuers in the property sector in recent weeks (Mercialys, Unibail, LEG Immobilien, Klepierre, etc.) to increase its liquidity following 1/ the repayment of the € 255m 2.25% bonds due 2024 last July, and 2/ with a view to its future debt maturities (including the 202...
Underlying
Altarea SCA

Altarea Cogedim is a real estate investment trust and development company. Co. is an active operator in the three main segments — retail, residential & office-hotels property — with the ability to design, develop, market & manage custom-tailored real estate products. In the Retail segment, Co. is active in real estate investment, development, asset management, providing services to third-party customers. In the Residential segment, Co. is a residential property developer. In the Office Property segment, Co. is a global operator active in all commercial property formats: high-rise buildings, business districts, corporate headquarters, renovation projects, green districts & luxury hotels.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Joan Sehim

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