In November 2022, WDP has received first-time issuer credit ratings by Moody’s and Fitch, who both assigned a solid long-term investment grade rating with a Stable Outlook of Baa1 and BBB+ respectively, reflecting the company’s prudent financial policy, strong access to capital, track record of an earnings-based leverage ratio target (net debt / EBITDA) and a diversified tenant portfolio with a focus on long-term cash-flow generation. These ratings are further supported by a high-quality portfolio with a continued high occupancy rate, retention rate and a stable rental income (being CPI-linked).
(in million euros)
|WDP SA||BE0002248178||37.1||10||1 April 2026|
|WDP SA||BE0002249184||22.9||10||1 April 2026|
In financing is activities, WDP has a commercial paper programme of (maximum) 200 million euros. The commercial paper is fully covered by revolving backup lines and unused credit facilities that serve as a guarantee for refinancing if the full placement or extension of the commercial paper proves impossible. Current dealers of the commercial paper programme are BNP Paribas Fortis and Belfius Bank.
BOND 2016 (COMPLETED)
WDP realizes a successful private placement of a bond for a total amount of 60 million euros, maturing in 2026, with a fixed annualized gross yield of 2.50% with respect to 62% of the placement and a variable annualized gross yield based in Euribor 3 months plus credit spread with respect to 38% of the placement1. This private placement was settled on 1 April 2016. As from then, the bonds are admitted to Euronext Brussels.
In the context of this bond issue, WDP publishes the prospectus for within the meaning of the Prospectus Directive, the Prospectus Regulation and the Prospectus Law.
1 The interest rate regarding the floating rate bonds will be calculated based on the Euribor 3 months +200 basis points margin, equivalent to a +190 basis points margin above the ten-year swap interest versus the Euribor 6 months with respect to the fixed rate bonds.
BOND 2015 (COMPLETED)
On Thursday 25 June 2015, WDP successfully closed the private placement of a 7-year bond, maturing on 2 July 2022, for a total amount of 92.2 million euros. For an amount of 54.4 million euro (namely 59% of the total placement), the bonds have been placed with fixed interest rate. An amount of 37.8 million euros (namely 41% of the total placement) has been placed with variable interest rate. The fixed rate bonds will be issued at an issue price of 99.361% with an annualized gross yield of 2.601%. The floating rate bonds will be issued at 100%, holding a six-month interest payment1 . This private placement was settled on 2 July 2015. As from then, the bonds are admitted to Euronext Brussels.
1 The interest rate regarding the floating rate bonds will be calculated based on the Euribor 6 months + 175 basis points margin.
RETAIL BOND 2014 (COMPLETED)
WDP SCA (the Issuer) announces a public offering of retail bonds in Belgium with maturity date 13 June 2021, for a minimum amount of 75 million euro and for a total expected maximum amount of 125 million euro. The coupon amounts to 3.375% gross per year. The bonds will be issued in denominations of 1,000 euro. The issue price amounts to 101.875% of the nominal amount, namely 1,018.75 euro per bond . This retail bond is offered to private investors and the offering is also open to qualified investors (each time as defined in the prospectus). The offer period runs from 22 May 2014 (9.00 am) through 10 June 2014 (4.00 pm), subject to early closing (which can occur at the earliest on 22 May 2014 at 5.30 pm). The issue date of the bonds shall be 13 June 2014.
In the context of this bond offering, WDP publishes the Prospectus for within the meaning of the Prospectus Directive, the Prospectus Regulation and the Prospectus Law.