Mercialys Secures €300 Million Bond Issue Amid Volatile Market Conditions

On October 27, 2026, Mercialys successfully placed a €300 million bond issue, due in January 2033. Confronted with a challenging market environment, including a significant increase in French sovereign risk premiums, this issuance signifies investor confidence in Mercialys’ stability. The bond's spread was set at 220 basis points, reflecting changing market conditions. The transaction enhances Mercialys' liquidity and prolongs the average debt maturity, which was 3.8 years as of June 2026. The funds are earmarked for general corporate purposes and refinancing upcoming bond maturities in 2027 and 2029.

The bond carries a 5.25% annual coupon. When swapped to a floating rate, the immediate cost is 4.8%. Major financial institutions, including Crédit Agricole CIB, BNP Paribas, and Natixis, coordinated the offering. Furthermore, S&P reaffirmed Mercialys' "BBB" credit rating with a stable outlook, indicating resilient operational performance and robust retailer sales.

Recent data indicates a 5.9% increase in footfall for October, suggesting a recovery trend in physical retail spaces. Sales performance also saw a 3.0% increase, contrasting with the 0.2% FACT national index growth.