Varia US Properties: 50 million bond placed
Varia US Properties has placed a CHF 50 million fixed-rate bond. This is the second time that the real estate company has issued a bond.
Varia US Properties AG said the new bond has a coupon of 2.875% and a maturity of four years. This is the second bond issue in the company's history, Varia added. In May 2019, a first fixed-rate bond of CHF 50 million with a maturity until June 2023 had been issued.
Varia intends to use the proceeds of the issue to further expand its portfolio in the US and to invest in the company's properties. This includes ESG initiatives to improve the attractiveness and efficiency of the properties.
Bank Vontobel acted as lead manager for the transaction and Fundo AG as selling agent. Admission to trading on the SIX Swiss Exchange is being applied for and the bond is scheduled to be librated on 7 October 2021, Varia further announces.
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