Lamda Development is returning to the bond market ,, setting a yield range of 4.2% to 4.5% for the new seven-year issue of up to €350 million, with the public offering beginning on Wednesday, June 3, and concluding on Friday, June 5.
The company will issue up to 350,000 common, dematerialized, and registered bonds with a par value of €1,000 each, with a minimum issue amount of €330 million and a seven-year maturity. The offering price has been set at par, i.e., €1,000 per bond.
The final yield and interest rate will be determined through a book-building process conducted via the Euronext Athens Electronic Order Book (E.O.B.), with the participation of qualified investors. According to the announcement, the yield range is set between 4.20% and 4.50%, while the final pricing will depend on market conditions, demand, and the composition of investors participating in the issue.
Retail investors will be allocated the lower end of the yield range, and at least 30% of the bonds in the public offering will be made available to them .
The bonds will be listed for trading in the Fixed Income Securities Category of Euronext Athens. The issue is unsecured and unguaranteed, except for a pledge on a special bank account of the company, as provided for in the terms of the program.