By William Gullotti
Buffalo, N.Y., Jan. 10 – VGP NV issued €1 billion of green bonds in two tranches due 2027 and 2030, according to a press release on Monday.
The five-year tranche of benchmark green bonds is for €500 million, bearing a 1.625% coupon.
The eight-year tranche is also for €500 million, bearing a 2.25% coupon.
Belfius Bank, BNP Paribas, J.P. Morgan AG and KBC Bank NV are the bookrunners for the offering.
The company reported that the total demand for the bonds was just under 2.5 times the combined volume of the offering.
Proceeds will be used to finance or refinance a portfolio of eligible assets in accordance with the company’s March 2021 green finance framework.
Listing for both tranches is expected on the Luxembourg Stock Exchange effective Jan. 17.
The real estate developer is based in Belgium.
Issuer: | VGP NV
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Issue: | Senior green bond
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Bookrunners: | Belfius Bank, BNP Paribas, J.P. Morgan AG and KBC Bank NV
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Announcement date: | Jan. 10
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Settlement date: | Jan. 17
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Listing date: | Jan. 17
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2027 bonds
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Amount: | €500 million
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Maturity: | Jan. 17, 2027
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Coupon: | 1.625%
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2030 bonds
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Amount: | €500 million
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Maturity: | Jan. 17, 2030
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Coupon: | 2.25%
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