by Property Forum | Investment

CA Immo successfully placed a €350 million fixed rate senior unsecured green bond with a 5-year maturity and an annual coupon of 1.0%. The issuance was oversubscribed more than 5.4 times at final terms with strong demand by more than 150 investors.


The bond will trade on the Official Market of the Vienna Stock Exchange. The international rating agency Moody’s Investors Service Ltd. has assigned an investment grade rating of Baa2 to the bond.

CA Immo intends to use the net proceeds of the bonds in particular for further growth and the optimisation of its financing structure and other general corporate purposes. The expected net proceeds will be largely used to finance or re-finance green buildings in accordance with our Sustainability Bond Framework. This includes the potential financing or re-financing of commercial properties that either have been certified by green building certification schemes including LEED or DGNB Gold or have a primary energy requirement that is at least 25% below the levels prescribed by local standards such as the German Energy Saving Ordinance (EnEV) or PENB (Czech Republic).

“As a top player in the European real estate sector, we fully support the United Nations climate targets and the associated transition to a low-carbon, sustainable economy. In order to meet the associated requirements in the best possible way and to secure our long-term competitiveness, we anchor appropriate measures, processes and objectives in our strategic positioning. With the green bond transaction, we strongly underpin this commitment and at the same time take advantage of the opportunity to further strengthen our financing structure and reduce our average financing costs,” Andreas Schillhofer, CFO of CA Immo commented.

J.P. Morgan Securities plc and Morgan Stanley & Co International plc acted as Joint Global Coordinators. UniCredit Bank AG and Raiffeisen Bank International AG acted as Joint Bookrunners and Joint Sustainability Structuring Agents to the Issuer along with J.P. Morgan Securities plc and Morgan Stanley & Co International plc. Sustainalytics has provided the Second Party Opinion on the Company’s Sustainability Bond Framework.