Mirvac issues $400m European medium term notes

20/09/2017 11:30:00

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Mirvac (ASX:MGR) has issued US$400 million European medium term notes.

The real estate group says as the notes were oversubscribed by debt investors and that it reflects Mirvac’s strong capital position.

The notes have a 9.5 years tenor, at a fixed coupon rate of 3.63 per cent.

Proceeds will initially be used to repay existing bank facilities. It also follows its recent credit rating upgraded from Moody’s from Baa1 A3.

Shares in Mirvac (ASX:MGR) are trading over 0.2 per cent higher to $2.27.