European logistics developer, owner and manager CTP has successfully placed a €750 mln green bond with a six year maturity and a 4.750% fixed coupon.
The notes were settled and admitted to trading on Euronext Dublin on 5 February.
The issuance, which marked CTP’s return to the Euro bond market, saw strong demand from investors and achieved an oversubscription of 5.5 times and an order book of more than €4.1 bn at its peak, reflecting the appetite for CTP’s strong credit profile, according to the firm.
CTP said that the proceeds from the issuance would be used for general corporate purposes including financing of developments and the concurrent tender offer that was launched. CTP will allocate the net proceeds from the issuance to a portfolio of eligible assets in line with CTP’s green bond framework.
The concurrent tender offer will enable CTP to repurchase bonds with a total nominal amount of €250 mln.
