Billionaire Benko Seeks Bond Sale to Boost European Business
- Signa Prime considers bond backed by ringfenced assets
- Signa’s department store chain Galeria asked for state help
This article is for subscribers only.
The billionaire owner of New York’s Chrysler Building is drafting plans to revive his European property business with a bond issue, as the pandemic has weighed on retailers that make up most of its tenants.
Signa Prime Selection AG, majority owned by Austrian businessman Rene Benko, is talking to several banks about selling at least 300 million euros ($365 million) of debt, according to people familiar with the matter.