Globalworth intends to launch a €1.5 billion issue under its Euro Medium Term Note (EMTN) Program. The notes will be sold on the Dublin Stock Exchange.
On 29 July 2020, Globalworth completed the issuance of €400 million new notes due 2026 under its €1.5 billion EMTN Programme. The new notes are listed on the Main Market of the Irish Stock Exchange plc. The new notes are the second drawdown under the Programme and constitute the company's inaugural green bond offering pursuant to its green bond framework established in 2020.
In addition, Globalworth announced that it has successfully completed its previously announced tender offer to holders of its outstanding €550 million notes due 2022, following which the net proceeds from its new notes (excluding fees and related expenses) will amount to approximately €158.7 million. Approximately €226.9 million motes were tendered and accepted by the company in the tender offer.
Globalworth intends to use the net proceeds from the new notes to finance or refinance eligible green projects, as further defined in the company's green bond framework.
"We are delighted by the strong support received by existing and new bond investors for our inaugural green bond issue. The transaction which was more than twice oversubscribed, is a further confirmation of our strong performance, the quality of our portfolio and team, as well our overall approach to sustainable development and the creation of long term value for our stakeholders, in the period of increased uncertainty due to the COVID-19 pandemic. This transaction was also a success from a liability management perspective allowing us to further improve our debt maturity profile by extending it further to the future," said Dimitris Raptis, Co-CEO and Chief Investment Officer of Globalworth.
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