Carmila announced that it has successfully concluded its tender offer on several tranches of existing bonds. The operation involves the 300 million euro bonds at a rate of 1.625% maturing on May 30, 2027, the 350 million euro bonds at a rate of 2.125% maturing on March 7, 2028, the 500 million euro bonds at 5.500% maturing on October 9, 2028, and finally the 325 million euro bonds at a rate of 1.625% maturing on April 1, 2029. The total nominal amount brought and accepted for repurchase amounts to 313.1 million euros. Carmila accepted the repurchase of 57.6 million euros of the 2027 bonds, 60 million euros of the March 2028 bonds, and 195.5 million euros of the October 2028 bonds. No 2029 bonds were repurchased.
Cancellation of Acquired Bonds and Debt Management Strategy
Free · Every morning
Technical market signals, before the opening bell.
Bullish and bearish momentum, analyst changes, stocks to watch — automatically computed from Euronext data.
✓ Before 9 AM every morning✓ Euronext data✓ AI-powered analysis
You're in — subscription confirmed!
Your first edition is on its way. Check your spam folder and add us to your contacts.
An error occurred.
Indicative data. No investment advice. Unsubscribe at any time.
Gratuit · chaque matin
Ne ratez plus rien sur vos actions
La tendance derrière les cours. L'essentiel des valeurs Euronext en quelques minutes.
📈les valeurs en mouvement, sur la durée
🎯les objectifs d'analystes qui évoluent
📰les actualités qui font bouger les cours
tendance · 6 séances
✓ C'est fait, vous êtes inscrit !
Votre première édition arrive bientôt. Pensez à vérifier vos spams.
Une erreur est survenue.
CAC 40 · SBF 120 · données indicatives · aucun conseil en investissement · désinscription à tout moment.
The bonds acquired by Carmila will be canceled in accordance with the planned procedures. The settlement date for this operation is set for October 14, 2025. This strategy is part of the company's proactive debt management and aims to improve the maturity profile of its balance sheet. The decision to repurchase comes in a context of debt restructuring by Carmila, following the inaugural issuance of a 300 million euro green bond on October 2, 2025. This green bond carries a coupon of 3.75% and has a maturity slightly over 7 years.
Strategic Financial Structure Optimization
The tender offer and the issuance of the green bond are part of Carmila's overall strategy to optimize its financial structure. By extending its maturities at potentially more favorable rates, the company seeks to reduce risks associated with its indebtedness and to strengthen its balance sheet. Active debt management is a priority for Carmila, which also announces the publication of its third quarter 2025 financial results on October 23, after market close. This financial communication could provide further insights into the impact of these operations on the financial health of the group.
Carmila is confidently reiterating its objectives for 2026
Risks mentioned
No new supply and increasing scarcity of profitable spaces may limit future expansion opportunities
Interest rate sensitivity despite current full hedging in 2026-2027, potentially impacting cost of capital for future acquisitions
Retail market concentration in Western Europe and exposure to economic downturn affecting footfall and retailer demand
Opportunities identified
Accretive acquisition of Grand Quetigny (Dijon) generating rental uplift and innovation-based revenues leveraging Carmila's asset management expertise
Rising retailer demand and occupancy expansion (96.0%, +70 bps) supporting sustainable rental revenue growth across three countries
Innovation-driven revenues (Specialty leasing, Retail media, Next Tower, Marketing services) from 620 million annual visits
Outlook / guidance
Management commentary: Carmila is confidently reiterating its objectives for 2026 and expects to generate recurring earnings per share of €1.87.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
