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URW raises €1.25bn in bond sale

Shopping centre owner Unibail-Rodamco-Westfield has raised €1.25bn (£1bn) through a bond sale.

The company raised the funds across two issuances: a seven-year and five-month, €650m tranche that priced with a coupon of 0.75% and a 12-year, €600m tranche priced at 1.375%.

URW, which is in the middle of a restructuring initiative hinged on disposals, said the money will be used for general corporate purposes and refinancing upcoming bond maturities.

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