Industrial developer CTP has announced the signing of a 5-year €500 million unsecured syndicated sustainability-linked loan facility at a fixed all-in cost of 4.7%. At the same time, the company launched a concurrent tender offer which will enable the group to repurchase short dated bonds with a total nominal amount of €500 million.
The unsecured syndicated loan facility allows CTP to further diversify its funding sources. SMBC Bank EU AG and ING acted as Global Coordinators and Sustainability Coordinators, while other banks in the syndicate include BNP Paribas, VUB (Intesa Sanpaolo), Rabobank, Bank of China, Alpha Bank Group and ICBC.
The loan will be used for general corporate purposes including financing of developments and the concurrent tender offer that was launched.
The liquidity management allows the group to extend its average debt maturity profile, as well as book a capital gain of €21.3 million.
The settlement of the tender offer is expected to take place on 28 June 2024.
