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Contributors

Alex Brog

Head of Communications, S&P Global Platts

Marie-Aude Vialle

Director and Pod Leader, Real Estate Corporate Ratings

Alex Brog

Head of Communications, S&P Global Platts

Marie-Aude Vialle

Director and Pod Leader, Real Estate Corporate Ratings

Listed

S&P downgrades URW’s credit rating to 'BBB+', outlook negative

Following Unibail-Rodamco-Westfield (URW) shareholders" rejection of a proposed €3.5bn capital increase, which was a main component of its €9bn RESET strategic plan to decrease (...)

Listed

Gecina successfully raises €400m on the bond market

Gecina has today successfully raised €400m through the matching of the two bond issues, with an average maturity of 10.1 years and an average (...)

Listed

Covivio priced a €500m 10-year Bond with a 1.625% coupon

Covivio priced a €500m 10-year Bond with a 1.625% coupon French REIT/SIIC Covivio has successfully priced its new Bond issue of €500m, maturing in (...)

Listed

SFL completes €500m bond issue

Société Foncière Lyonnaise (SFL), the Paris-based office REIT 82% held by Spain's Colonial, successfully issued €500m worth of seven-year bonds maturing on 5 June 2027 and (...)

Listed

Air traffic decline: Standard and Poor's revises its long-term credit rating for Aéroports de Paris

The ADP Group announced the rating agency Standard and Poor's has just revised the company's long-term credit rating due to the decline in traffic, (...)

Listed

Berlin's TLG boosts 9mth portfolio 11.5% to €4.6bn amid Aroundtown merger

Berlin's TLG Immobilien boosted the value of its properties by 11.5% in the first nine months to €4.58bn, and reiterated that its merger with (...)

Listed

Hamburg's alstria places €400m bond to refinance old maturities

Hamburg's alstria office REIT has placed a corporate bond with a nominal value of €400m and a fixed coupon of 0.5%, aimed to refinance (...)

Retail

French Casino parent Rallye placed under creditor protection

Rallye, the parent company of French retailer Casino, has been placed under creditor protection by a Paris commercial court to give it time to (...)

Finance

Paris REIT Gecina places 15yr €500m bond issue at 1.625% to buy back notes

Paris office and housing REIT Gecina has placed a €500m bond issue with a 15-year maturity at 1.625% and launched a tender offer on (...)

Listed

Spanish Colonial's recurring net surges 22% to €101m after busy 2018

Recurring net profit for Spanish REIT/SOCIMI Colonial surged 22% to €101m in 2018 and its portfolio revalued by the same amount to €11.35bn after a (...)

Listed

French Covivio boosts 2018 EPRA earnings 6.4% to €381m, 4.5% per shr

Giant French REIT/SIIC Covivio boosted 2018 EPRA earnings 6.4%yy to €381m group share, and 4.5% to €5.08 per share, exceeding guidance of 3%. In its results release, the firm (...)

Finance

Vienna’s Immofinanz places €500m benchmark bond, wins first-ever rating

Vienna’s listed Immofinanz has placed a €500m benchmark bond with investors and won a rating from S&P, making it the first-ever rated issue from a Austrian (...)

Office

Spain’s Colonial looks forward to organic growth after busy 2018

Spanish office REIT/SOCIMI Colonial, after a takeover and a readjustment of capital this year, is looking ahead to delivering organic growth with a rise (...)

Listed

French SFL stake increase helps Colonial to first BBB+ S&P rating

Spain's Colonial has become the first Spanish REIT to obtain a BBB+ credit rating from US agency S&P after taking 81% of France's Société (...)

Housing

Europe's housing markets stage a soft landing - S&P Global

Europe's housing markets are staging a soft landing mainly since monetary conditions will stay favourable, says S&P Global Ratings. German and French prices will slow (...)

Listed

French retailer Casino sells 15% of Mercialys unit for €213m

French supermarket chain Casino, under pressure to reduce debt, has raised €213m by selling 15% of listed unit Mercialys via an equity swap with (...)

Office

Spanish office REIT Colonial 2017 net jumps 149%, recurring up 14%

Spanish office REIT/SOCIMI Colonial, which owns a majority in France's SFL, said attributable net profit last year, prior to its takeover of Madrid peer Axiare, jumped 149% (...)

Listed

ETF universe to shift as FTSE Russell creates property class

Index provider FTSE Russell is to follow S&P and MSCI in giving real estate its own industry classification, moving it out of Financials after it found correlation divergence. The move (...)