British Land is seeking to raise about $500 million in a sale of bonds in the U.S. private placement market, Financial Times reports. The U.K. property firm had initially planned to place $200 million worth of bonds with U.S. investors.
Royal Bank of Scotland and HSBC are the joint book runners for the transaction. British Land is likely to issue a series of bonds or tranches with maturities ranging from seven to 15 years.
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