{"id":40431,"date":"2026-03-27T14:36:26","date_gmt":"2026-03-27T13:36:26","guid":{"rendered":"https:\/\/www.alantra.com\/?post_type=ib-transaction&#038;p=40431"},"modified":"2026-04-01T09:36:27","modified_gmt":"2026-04-01T08:36:27","slug":"merlin-properties-accelerated-bookbuilding","status":"publish","type":"ib-transaction","link":"https:\/\/www.alantra.com\/es\/ib-transaction\/merlin-properties-accelerated-bookbuilding\/","title":{"rendered":"Alantra acts as Co-Lead Manager on Merlin Properties\u2019 \u20ac768mn capital increase to support its data center expansion strategy"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>M<\/strong><strong>adrid \u2013<\/strong> Alantra has acted as Co-Lead Manager on Merlin Properties\u2019 successful \u20ac768mn capital increase through an accelerated bookbuild without preferential subscription rights, executed at \u20ac13.64 per share.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The transaction, representing c.10% of Merlin\u2019s share capital, was completed with no discount to the last closing price, reflecting strong demand from institutional investors. Core shareholders Banco Santander and Nortia subscribed for a significant portion of the offering, maintaining their respective stakes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Proceeds from the capital increase will be used to fund Merlin\u2019s Data Centres Phase III plan, which targets 412MW of IT capacity across Bilbao, Lisbon, and Zaragoza, increasing the company\u2019s total data center capacity to 730MW. Phase III represents a total capex of \u20ac4.47bn, with \u20ac1bn expected to be committed by 2027 and the remaining investment phased through 2028\u20132030.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.alantra.com\/team-member\/andre-pereira-ambrosio\/\">Andre Pereira-Ambrosio<\/a>, Partner and Head of ECM Iberia at Alantra Equities, said: \u201cIt has been a pleasure to support Merlin in this important step in its growth strategy. The transaction highlights the company\u2019s strong positioning and long-standing relationship with capital markets, as well as the high level of investor appetite for high-quality growth stories such as Merlin.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This transaction underscores Alantra\u2019s momentum in advising on high-profile Equity Capital Markets transactions, having recently acted as Joint Bookrunner in <a href=\"https:\/\/www.alantra.com\/ib-transaction\/neinor-homes-capital-increase-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">Neinor Homes\u2019<\/a> \u20ac140mn capital increase, Co-Lead Manager in <a href=\"https:\/\/www.alantra.com\/ib-transaction\/neinor-homes-capital-increase\/\" target=\"_blank\" rel=\"noreferrer noopener\">Neinor Homes\u2019<\/a> \u20ac230mn capital increase, and Joint Bookrunner for the accelerated bookbuild for <a href=\"https:\/\/www.alantra.com\/ib-transaction\/izertis-accelerated-bookbuilding\/\" target=\"_blank\" rel=\"noreferrer noopener\">Izertis<\/a>.<a id=\"_msocom_1\"><\/a><\/p>\n\n\n    <div class=\"button--block \">\n        <div class=\"button--block_box\">\n                                                                <a href=\"https:\/\/www.alantra.com\/what-we-do\/investment-banking\/transactions\/?ib-service=equity-capital-markets\" class=\"btn\" target=\"_blank\">View ECM <span class=\"btn__arrow\"><\/span><\/a>\n                                                                                <a href=\"https:\/\/www.alantra.com\/global-presence\/spain-investment-banking-2\/\" class=\"btn\" target=\"_blank\">View Spain <span class=\"btn__arrow\"><\/span><\/a>\n                                    <\/div>\n    <\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Madrid \u2013 Alantra has acted as Co-Lead Manager on Merlin Properties\u2019 successful \u20ac768mn capital increase through an accelerated bookbuild without preferential subscription rights, executed at \u20ac13.64 per share. The transaction, representing c.10% of Merlin\u2019s share capital, was completed with no discount to the last closing price, reflecting strong demand from institutional investors. Core shareholders Banco [&hellip;]<\/p>\n","protected":false},"featured_media":40433,"parent":0,"template":"","meta":{"_acf_changed":true},"country":[8],"ib-service":[96],"sector":[55],"subsector":[],"class_list":["post-40431","ib-transaction","type-ib-transaction","status-publish","has-post-thumbnail","hentry","country-spain","ib-service-equity-capital-markets","sector-real-estate"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.alantra.com\/es\/wp-json\/wp\/v2\/ib-transaction\/40431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.alantra.com\/es\/wp-json\/wp\/v2\/ib-transaction"}],"about":[{"href":"https:\/\/www.alantra.com\/es\/wp-json\/wp\/v2\/types\/ib-transaction"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.alantra.com\/es\/wp-json\/wp\/v2\/media\/40433"}],"wp:attachment":[{"href":"https:\/\/www.alantra.com\/es\/wp-json\/wp\/v2\/media?parent=40431"}],"wp:term":[{"taxonomy":"country","embeddable":true,"href":"https:\/\/www.alantra.com\/es\/wp-json\/wp\/v2\/country?post=40431"},{"taxonomy":"ib-service","embeddable":true,"href":"https:\/\/www.alantra.com\/es\/wp-json\/wp\/v2\/ib-service?post=40431"},{"taxonomy":"sector","embeddable":true,"href":"https:\/\/www.alantra.com\/es\/wp-json\/wp\/v2\/sector?post=40431"},{"taxonomy":"subsector","embeddable":true,"href":"https:\/\/www.alantra.com\/es\/wp-json\/wp\/v2\/subsector?post=40431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}