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Unibail Issues €1.4 Billion in Debt and Reduces the Salaries of its Directors

The real estate company has decided to reduce the salaries of its directors by between 20% and 25% to help it combat the coronavirus pandemic.

centro comercial la vaguada de URW
La Vaguada shopping centre, owned by Unibail Rodamco Westfield

The company Unibail-Rodamco-Westfield (URW), one of the world’s largest shopping centre owners, has issued € 1.4 billion of corporate bonds, albeit at a higher coupon than it was paying for its debt capital before the coronavirus crisis, according to Property EU.

The firm has set the price of the two-tranche senior bonds at a fixed coupon of 2.125% for €600 million of notes maturing in five years, and 2.625% for €800 million of notes maturing in 10 years.

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