The bonds have been issued with a maturity of 12 years, at an issue price of 98.718% of nominal value, and an annual coupon of 2.375% (midswap + 150.8 bps). Subscription and payment for the issuance is expected on 18 September 2017.
The terms and conditions of the bonds issued, as well as their representation, are subject to English law. In addition, it is expected that the bonds are admitted to listing on the Luxembourg Stock Exchange.
Is the first time that a Spanish real estate has issued bonds with a maturity longer than 10 years. Merlin also becomes the only BBB rated real estate company in Europe to issue 12-year maturity bonds in the last year.