CA Immo has placed a €350 million fixed rate senior unsecured green bond with a 5.5-year maturity and an annual coupon of 4.25%. The issuance was almost five times oversubscribed at final terms with strong demand from around 150 investors.
The company intends to use the net proceeds of the bonds in particular for the refinancing of the outstanding €350 million 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, CA Immo has decided to invite holders of its outstanding green bond 2025 (€350 million, 1.000%) to offer the company to repurchase up to €75 million of the outstanding bond against cash payment.
“The new green bond will be used to refinance the outstanding green bond maturing in October 2025, thus further strengthening the financial profile. A solid balance sheet with a well-managed maturity profile also provides the basis for further organic growth, as also recently demonstrated with the latest construction start of the prime office project Anna-Lindh-Haus at Berlin's main railway station, which is being developed in line with strict sustainability criteria,” says Andreas Schillhofer, CFO of CA Immo.
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 has provided the Second Party Opinion on CA Immo’s Green Financing Framework.
CA Immo is listed on the ATX of the Vienna Stock Exchange and has property assets of around €5.1 billion in Germany, Austria and CEE.
