Vienna-based property group CA Immo has placed a €350 mln fixed rate senior unsecured green bond with a 5.5-year maturity and an annual coupon of 4.25%.
The issuance was almost 5 times oversubscribed at final terms with strong demand from around 150 investors.
CA Immo intends to use the net proceeds of the bonds in particular to refinance the outstanding €350 mln green bond maturing in 2025. An amount equal to the net proceeds will be used to finance or re-finance in whole or in part a portfolio of eligible projects as defined in the Green Financing Framework dated April 2024.
Concurrently, the company has decided to invite holders of its outstanding green bond 2025 (€350 mln, 1.000%) to offer the company to repurchase up to €75 mln of the outstanding bond against cash payment.
Andreas Schillhofer, CFO of CA Immo said: 'In light of the substantially improved market conditions for unsecured financing in recent weeks, we were able to act from a position of strength. This successful transaction once again demonstrates CA Immo's strong market access for unsecured green financing.'
J.P. Morgan and Crédit Agricole CIB acted as Joint Global Coordinators. Deutsche Bank, Natixis and Raiffeisen Bank International acted as Joint Bookrunners. Crédit Agricole CIB acted as Sole Green Structurer. Sustainalytics provided the Second Party Opinion on the Company’s Green Financing Framework.
