French listed office giant Foncière des Régions has issued its first €500 mln 10-year green bond with a 1.875% coupon, with a margin of 137 bps above the swap rate.
The notes have been more than five times oversubscribed, the Paris-listed group said.
This issue will be used to finance or refinance office buildings under development or recently delivered and with a HQE (minimum target of 9/14) or BREEAM (Very Good and above) environmentally-sustainable certification.
The operation is also in line with Foncière des Régions' strategy to diversify its funding sources, reduce the cost of debt and extend the debt maturities.
