Listed Frankfurt-based commercial property firm DIC Asset has raised €400 mln through the issue of its first green bond with a five-year maturity and a coupon of 2.25%.
The bond was successfully marketed among institutional investors in Europe, with a 'significantly oversubscribed' order book which lead to an upsizing of €100 mln, compared to the initial target volume.
'The fact that the funds thereby raised are earmarked for Green Buildings matches our corporate strategy and our recently published ESG road map, both of which project a growth trajectory for a green sub-portfolio on our balance sheets but also for our third-party business with institutional investors. We are planning to raise the share of Green Buildings from currently about 11% of the market value of the Commercial Portfolio to about 20% by year-end 2023,' commented Sonja Wärntges, CEO of DIC.
'Today's bond marks the next milestone we are clearing as part of our success story in green finance. The Green Bond helps us to further diversify our financial structure and make it even more flexible,' added Patrick Weiden, Chief Capital Markets Officer (CCMO) of DIC.
