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Resounding Success for Icade's Inaugural Bond Issue

  Resounding Success for Icade's Inaugural Bond Issue

Business Wire

PARIS -- September 24, 2013

Regulatory News:

Only a few short weeks after the success of its tender offer for Silic, Icade
(Paris:ICAD) has carried off a new and highly significant success among its
investors.

For its first ever bond issue, Icade has placed two loans which have been
vastly over-subscribed by high-standing European investors and which are
perfectly suited to the Group's debt curve: one for €500 million over 5 years
4 months with a 100bp spread over the reference rate (coupon rate 2.25%), and
the other for €300 million over 10 years with a 135bp spread (coupon rate
3.375%).

Given a BBB+ (outlook stable) rating by Standard & Poor's, Icade has been able
to benefit from particularly attractive margins for its inaugural issue,
allowing the Group to continue with its financial policy: diversifying its
funding sources, lengthening the average maturity and lowering the average
cost of its debt.

Serge Grzybowski explains"Just as announced, we have launched our first bond
issue soon after closing the deal on Silic. We are very happy with the
conditions in which these two loans have been issued today, conditions which
have allowed us to take an important step forward in the consolidation of our
model while merging with Silic."

About Icade

A listed real estate investment company and subsidiary of the Caisse des
Dépôts, Icade is a major player in Greater Paris and regional development
capable of providing comprehensive, sustainable and innovative solutions that
are tailored to customer needs and the challenges of tomorrow’s cities.

Contact:

Icade
Nathalie Palladitcheff, +33 (0)1 4157 7260
Member of the executive committee, in charge of finance, legal matters and IT,
and for the property services division
nathalie.palladitcheff@icade.fr
or
Julien Goubault, +33 (0)1 4157 7150
Deputy Chief Financial Officer, in charge of financing, corporate and investor
relations
julien.goubault@icade.fr
 
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