房地產

Property bonds close to record

European real estate companies are closing in on a record year of bond issuance having already raised nearly double 2011’s total, highlighting the industry’s growing disenchantment with the bank funding market.

Property groups have raised €15.4bn so far this year, compared with €8.3bn in 2011, through a combination of corporate bonds, private placements and smaller denomination retail bonds, according to research provided for the Financial Times. If the trend continues, issuance will hit almost €20bn by the end of the year, a record annual total.

The depth of demand and low cost – the average coupon interest on the 134 bonds issued so far in 2012 is 4.74 per cent – suggest capital markets are pricing risks at less expensive levels than the continent’s banks in an era of historically low interest rates.

您已閱讀29%(811字),剩餘71%(1961字)包含更多重要資訊,訂閱以繼續探索完整內容,並享受更多專屬服務。
版權聲明:本文版權歸FT中文網所有,未經允許任何單位或個人不得轉載,複製或以任何其他方式使用本文全部或部分,侵權必究。
設置字型大小×
最小
較小
默認
較大
最大
分享×