VGP NV (‘VGP’ or ‘the Group’), a European provider of high-quality logistics and semi-industrial real estate, today announces that it has successfully issued its first public benchmark green bond for an aggregate nominal amount of € 600 million, paying a coupon of 1.50 per cent. p.a. and maturing on 8 April 2029.
The market has received VGP’s issuance well as the demand exceeded 2.7 times the volume of the issue. The proceeds from this issuance will be used to finance and /or refinance a portfolio of eligible assets in accordance with the VGP Green Finance Framework of March 2021.
The bond will be listed on the Luxembourg Stock Exchange (EuroMTF).
“The launch of our inaugural green bond is a further building block in our long-term sustainability strategy,” said Jan Van Geet, CEO of VGP. “We intend to use the proceeds to fund our majority pre-let development pipeline and to support the needs of our customers through the build out of renewable energy assets and the design and development of new green logistics and semi-industrial parks which deliver towards high standards of energy efficiency.”
The settlement and admission to trading of the notes are scheduled for 8 April 2021.
The banks acting on the transaction are J.P. Morgan and KBC Bank NV, as Joint Global Coordinators and Joint Green Bond Structuring Agents, and together with Belfius Bank SA/NV and BNP Paribas, as Joint Bookrunners.