The European Bank for Reconstruction and Development (EBRD) said it has subscribed €50 million into a €500 million Eurobond first issuance by NE Property Cooperatief, a company owned by CEE-focused real estate investment trust NEPI Rockcastle.
The proceeds from the bond issue will be used to fund NEPI Rockcastle's projects under development and new acquisitions, with a focus on retail properties located in the wider CEE region, both in capital and regional cities.
The Eurobond issue is part of a €1.5 billion medium-term note programme. The bond is guaranteed by NEPI Rockcastle and is listed on the Irish Stock Exchange and the Bucharest Stock Exchange. The listing of the bond on the Bucharest Stock Exchange supports the deepening of the capital market in Romania, the EBRD said.
