Immobel to launch public offering of 6.5-year green notes on Thursday

Chicago, Oct. 26 – Belgium’s Immobel SA/NV will launch a public offering of 3% 6.5-year green notes on Thursday, according to a press release.

The company aims to sell between €75 million and €125 million of the notes.

The notes will be offered to retail investors and, to a certain extent, also to qualified investors.

Retail investors will pay 101.875 for the notes, inclusive of a 1.875% selling and distribution commission to be paid by investors. A different commission may apply to qualified investors.

Retail investors, with the issue price, will have bonds with a 2.68% net yield. With withholding tax, the net actuarial yield will be 1.79%.

The subscription period will run from 3 a.m. ET on Thursday to 11:30 a.m. ET on Nov. 5, subject to the possibility of early closure.

The notes will settle on Nov. 12.

The notes will be issued under the company’s €325 million euro medium-term note program and listed on the regulated market of Euronext Brussels.

Belfius and BNP Paribas Fortis are the joint green bond structurers and joint bookrunners.

Belfius, BNP Paribas Fortis and KBC are the joint lead managers.

Proceeds will be used to finance or refinance exclusively, in whole or in part, assets, projects and activities which contribute to the issuer’s ESG strategy in accordance with its green finance framework.

Immobel is a property developer based in Brussels.

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