Capital & Counties’ Covent Garden Group Holdings has raised £175m through a private placement with five US institutional investors.
The holding group, which owns CapCo’s Covent Garden assets, said the proceeds would “strengthen the group’s capital structure and provide financial flexibility and resources”.
The issue consists of two tranches: £125m at a fixed coupon of 2.28% due in 2026 and £50m at a fixed coupon of 2.37% due in 2028.
Soumen Das, chief financial officer at CapCo, said: “We have benefited from the all-time-low gilt rates to lock in long-term debt.
“We are delighted with our second US private placement issue and the support we have received from our investors.”
Closing and funding of the transaction will take place in November.
The announcement comes days after LondonMetric raised £130m through its own private placement.
From last week: LondonMetric placing raises £130m
From August: Capco head of Covent Garden resigns
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