Appleby, one of the world’s largest provider of offshore legal, fiduciary and administration services, has acted as Jersey counsel for Atrium European Real Estate Limited in relation to the successful placement of a EUR350 million unsecured seven year Eurobond, maturing in April 2020 and bearing a fixed coupon of 4.00% per annum.
The proceeds of the issue will strengthen Atrium’s liquidity and will be used for general corporate purposes, including acquisitions, as and when identified, as well as the refinancing of its existing secured debt.
The Appleby team was led by Mark Lewis, a Corporate & Commercial partner in Jersey, and assisted by associate, Christopher Spencer. Lead lawyers for Atrium were Skadden Arps, Deutche Bank and HSBC acted as the lead managers and underwriters and were represented by Clifford Chance.
Commenting on the transaction, Mark Lewis said: “We are pleased to be involved in this complex transaction which has been met with exceptionally high subscriber demand across the European institutional debt market, representing an oversubscription of 3.7 times. While global M&A deal levels continue to fall, we are seeing increasing levels of bond issuance across Europe as more and more companies tap into the debt markets to raise capital, and this transaction further supports this trend.”
About Atrium European Real Estate Limited
Atrium European Real Estate Limited is a leading owner, operator and developer of retail real estate and shopping centres in Central and Eastern Europe.