EQS-News

CPI PROPERTY GROUP – High Demand for Recent Green Bond

EQS-News: CPI PROPERTY GROUP / Key word(s): ESG/Real Estate CPI PROPERTY GROUP – High Demand for Recent Green Bond 07.05.2024 / 18:20 CET/CEST The issuer is solely responsible for the content of this announcement.

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CPI Property Group
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254                                                                                                                             

Press Release - Corporate News

Luxembourg, 7 May 2024

CPI PROPERTY GROUP – High Demand for Recent Green Bond

CPI PROPERTY GROUP (“CPIPG” or the “Company”), a leading European landlord, is pleased to announce the closing of €500 million of 5-year senior unsecured green bonds.

More than €3 billion of orders were placed for the green bonds, the strongest-ever response to a bond issue by CPIPG. With a six times oversubscribed orderbook, CPIPG was able to reduce the cost significantly from initial guidance to pricing. The coupon was set at 7%, which is higher than CPIPG’s historic cost of debt. However, CPIPG proceeded with the green bonds in order to bolster liquidity and demonstrate market access in support of the Group’s credit ratings and capital structure.

“Events of past few years have created many opportunities for investors to test, examine and get to know CPIPG,” said David Greenbaum, CEO. “We are grateful for the support and remain focused on delivering for all stakeholders.”

Barclays, Goldman Sachs, Santander, Société Générale, Erste Group, SMBC, Raiffeisen Bank International and UniCredit acted as joint bookrunners on the transaction.