According to what both companies said to the CNMV, the exchange ratio has been determined in 1,855 shares of Colonial of €2.50 per each Axiare share of €10 nominal value, so there will be no additional compensation in money.
With the absorption of Axiare, Colonial will become the first company of office buildings for rent in the country and one of the first in Europe, given that it will add a portfolio of this kind of properties, distributed by the centers of Paris, Madrid and Barcelona, valued at about €11,100 million.
The new company will add a debt of around €3,740 million, equivalent to about 33% of the value of the assets.
Colonial closes successfully a bond issue of €650M
On the other hand, Colonial has successfully closed a debt issuance operation for a total of €650 million. The bond issue is structured to 8 years, which shall be increased by an interest of 2% with maturity on April 17, 2026.
The company managed by Pere Viñolas will allocate the funds raised with this operation to satisfy the company's corporate needs and to refinance or clear part of its debt in advance.
The markets have widely supported Colonial's issuance, to the extent that demand has exceeded 3.2 times the volume of the issue. A total of 150 international investors with an institutional profile have supported the Colonial issue.