Mercialys : A reduced and less attractive premium
Mercialys successfully returned to the primary bond market in early September. The property company issued € 300m of new senior bonds maturing in 2031 with a coupon of 4%. The premium offered by the MERYFP curve has been significantly reduced compared with the BBB market and the main French commercial property companies, against a backdrop of an improved credit profile. We take the opportunity of this new issue to review the French retail property market, operating performance an...Mercialys is a real estate company, specialized in the transformation and management of shopping centers. Co. manages a portfolio of 91 properties located throughout France at Dec 31, 2013. Co.'s assets are classified into three categories: large regional shopping centers (GLA of over 365,800 sq. m.), neighborhood shopping centers (GLA of over 181,600 sq. m.), and Other assets (40,900 sq. m.). At Dec. 31, 2013, the portfolio comprised 25 large regional shopping centers, 36 neighborhood shopping centers, and 18 other sites such as food stores, specialty stores, independent cafeterias, service malls, and convenience stores, representing a total gross leasable area of about 588,300 sq. m.
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.
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