Gecina aims to transform all bonds, new and existing, to green bonds

By Wendy Van Sickle

Columbus, Ohio, April 14 – Gecina is launching the requalification of all its outstanding bond issues as green bonds, strengthening the alignment between its environmental performance and its financial structure, according to a news release.

Building on its policy launched in 2018 to set up responsible bank loans, which represent 49% of the bank facilities in place currently, Gecina said it is committed to setting up a 100% green bond program.

This program aims to accompany the continuous global improvement in the group’s asset portfolio and environmental performance.

The program calls for all issues to transition to green bonds, including the outstanding €5.6 billion and all future bonds.

Eligibility criteria could be reviewed every year and would be increasingly demanding to ensure alignment with the company’s target to be carbon neutral by 2030.

Carbon and energy performance across all of buildings, both offices and residential, would be tested each year.

In the future, this program will also open up the possibility for the company to issue sustainability-linked bonds with interest rates that are indexed against the achievement of carbon footprint goals for the entire group.

If approved by noteholders at their general meetings, this 100% green format will position Gecina as one of the first companies in the world to have a fully green euro-bond financing program, the company said.

Based in Paris, Gecina owns and manages a portfolio of commercial and residential real estate.

© 2015 Prospect News.
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