VIA Outlets raises 600 million euros in inaugural green bond issuance

European mall operator VIA Retailers has efficiently positioned the issuance of 600 million euros value of senior unsecured fixed-rate inexperienced bonds due 2028.

It’s the inaugural inexperienced bond of VIA Retailers, which operates 11 premium outlet centres in 9 European nations.

The issuance was six occasions oversubscribed, with the proceeds getting used to repay the vast majority of its excellent debt and to permit the corporate to execute its progress technique within the coming years.

“The level of oversubscription we received underlines investors’ recognition of the strength of our business and the importance they rightly place on sustainable investment,” mentioned VIA Retailers CFO Peter Stals in an announcement.

“The issuance significantly improves our financing and maturity profile, diversifies our funding base and reduces our average nominal financing costs by more than 50 basis points to below 1.70 percent.”

In parallel to the bonds, a 100 million euro revolving credit score facility was organized with a set of relationship banks.

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