Goodman European Logistics Fund (GELF or Fund) is pleased to announce that it has successfully priced its inaugural €500 million, five year Eurobond issue.
GELF received total demand for over €970 million, which was well supported by some of the strongest institutional investors in the bond market.
The proceeds of the bond will be used to repay existing debt facilities and to fund future growth opportunities.
Emmanuel Van der Stichele, Fund Director, Goodman European Logistics Fund (GELF) said: “We are very pleased with the strong demand from investors. Accessing the debt capital markets is consistent with GELF’s debt strategy of diversifying funding sources and extending its debt maturities.
This is a great result and reflects the quality of the GELF portfolio and Goodman‘s European business. I am confident that this successful entry into the bond market positions GELF very well for the future,” he said.
Goodman is number one European developer
PropertyEU magazine has named Goodman as the number one developer in Europe for the second year in a row. The ranking, which appears in the March edition, is based on completed projects in sqm from 2010 to 2012.
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About Goodman European Logistics Fund (GELF)
GELF is a €1.9 billion pan-European fund with a portfolio of 94 assets in 11 countries and boasts unparalleled performance metrics as demonstrated by a 98% occupancy rate and, a portfolio weighted average lease expiry (WALE) to first break of 5.0 years.
For more information please visit: www.gelf.eu
Goodman is an integrated property group that owns, develops and manages logistics and business space across Continental Europe, the United Kingdom, the Asia-Pacific region, North America and Brazil. The Group invests in business parks, office parks, industrial estates and warehouse and distribution centres.
Goodman also offers a range of listed and unlisted property funds, giving investors access to a range of specialist services and property assets, and is working continually to build value in industrial property and fund management, with innovative new developments, and business and investment offerings.
With total assets under management of €16.5 billionand over 400 properties under management, Goodman is the largest industrial listed property group on the Australian Stock Exchange, and one of the largest listed specialist fund managers globally. Its market insight and dedicated local teams create sound investment opportunities and develop properties and environments that meet each client’s individual requirements.
With more than 970 staff and 36 offices in 18 countries, Goodman has the global reach to meet customers’ needs as their businesses expand or evolve. In Europe, Goodman has offices in Germany, the Netherlands, Belgium, Luxembourg, France, Spain, Italy, Poland, the Czech Republic, Hungary, Slovakia, Sweden and the UK.