Belgian shed developer WDP has reached an agreement with eight international investors for the placement of €500 mln of green notes.
The bullet-type notes, denominated in euro with a 10-year life term, carry an interest of 1.52%.
WDP initially planned to raise €250 mln through the bond issue, but decided to increase the size of the transaction to €500 mln following strong investor demand.
The transaction is expected to close by the end of April 2022 with funding foreseen mid-May 2022.
With this financing, WDP strengthened its debt maturity profile, its liquidity position and, its debt diversification and secured financing for the ambitions set within its 2022-25 strategic growth plan, the company said in a statement.
Lenders Belfius, ING, KBC and Natixis acted as lead agents.
'Within the framework of the WDP Climate Action Plan, WDP has taken up a firm commitment towards maximizing its green financing efforts. Sustainable growth is always based on diversification of funding and green financing. This transaction is a true token of this strategy and demonstrates the solid credit profile of the group allowing it to further extend its funding sources and attract international financing,' commented Mickael Van den Hauwe, CFO of WDP.
