CPI Property Group – Successful Hybrid Tender and New Issue

CPI Property Group

(société anonyme)

40, rue de la Vallée

L-2661 Luxembourg

R.C.S. Luxembourg : B 102 254

 

Press Release – Corporate News

 

Luxembourg, 28 June 2026

 

CPI Property Group – Successful Hybrid Tender and New Issue 

CPI PROPERTY GROUP (“CPIPG” or the “Group”), a leading European landlord, today announces the completion of another successful capital markets transaction.

On 24 June, CPIPG issued €550 million of undated Type A subordinated notes, which are accounted for as equity under IFRS and qualify for equity credit from the Group’s rating agencies. The transaction was well oversubscribed, attracting strong demand from both existing and new investors.

The proceeds were used to fund a tender offer for the Group’s €525 million legacy hybrid notes which were issued in 2020 and are callable in Q3 2026. The tender offer settled on 26 June, with CPIPG accepting all €482 million principal amount of notes validly tendered.

The transaction further optimises the Group’s capital structure and marks CPIPG’s third Type A hybrid issuance, following a successful exchange offer in June 2025 and a £300 million issuance in October 2025.

The Group does not intend to issue more hybrid securities during 2026. CPIPG’s only remaining significant legacy hybrid is callable in 2028.

“We appreciate the continued support of our hybrid investors and are delighted with the demand for this transaction,” said David Greenbaum, CEO. “This refinancing further strengthens our balance sheet and demonstrates CPIPG’s continued access to capital markets.”
 

For further information please contact:

 

Investor Relations

Moritz Mayer

Manager, Capital Markets
m.mayer@cpipg.com

 

For more on CPI Property Group, visit our website: www.cpipg.com

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Disclaimer: This communication contains certain forward-looking statements with respect to the financial condition, results of operations and business of CPIPG. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “plans”, “projects”, “anticipates”, “expects”, “intends”, “targets”, “may”, “aims”, “likely”, “would”, “could”, “can have”, “will” or “should” or, in each case, their negative or other variations or comparable terminology. Forward-looking statements may and often do differ materially from actual results. CPIPG’s business is subject to a number of risks and uncertainties that could also cause a forward-looking statement, estimate or prediction to differ materially from those expressed or implied by the forward-looking statements contained in this communication. The information, opinions and forward-looking statements contained in this communication speak only as at its date and are subject to change without notice. As a result, undue influence should not be placed on any forward-looking statement.