On January 14, 2022, NEPI Rockcastle announced that its wholly-owned subsidiary, NE Property B.V., had priced a green EUR 500 million unsecured eight-year Eurobond maturing in January 2030, carrying a 2% fixed coupon and an issue price of 98.713%.
According to the company, S&P and Fitch assigned the bond BBB ratings, in line with the EUR 4 billion EMTN Program rating and the corporate rating. The net proceeds will be allocated to eligible green projects included in the company’s portfolio.
NEPI Rockcastle also informed that the bond benefitted from strong demand, with an oversubscribed book that peaked over EUR 1.5 billion. The issue achieved broad institutional distribution, selling to asset managers (78%), banks (12%), and other types of institutional investors, with demand coming from a multitude of geographies like France (34%), UK/Ireland (24%), DACH region (15%) and Benelux (15%).