CTP continues to garner strong investor interest raising EUR 500 million in their third green bond issuance

Aurel Constantin 22/02/2021 | 15:29

CTP B.V. raised EUR 500 million with their third green bond issue on February 18th 2021, increasing the total raised from Green Bonds to EUR 1.55 billion since their inaugural issuance in September 2020.

CTP, one of Europe’s top-five logistics property companies, continues to gain strong traction in the European bond markets since their debut issuance in September 2020. On February 18th 2021, the Group issued its third green bond with a nominal of EUR 500 million, a coupon of 0.75% and a six year maturity.  As with the first two issues, this third bond was also concluded under its Green Bond Framework, continuing CTP’s strategy to only issue Green Bonds as this  underpins the Groups’ sustainability commitment. This third issuance increases the total amount that CTP has raised through bond issuances to €1.55 billion over the last five months. It now has 3 varying maturities (of 2023, 2025 and 2027 respectively) outstanding.

Both Moody’s and S&P credit rating agencies reconfirmed CTP’s investment grade credit ratings of Baa3 (Stable) and BBB- (Stable) respectively. The issuance received strong interest from investors, attracting orders from over 150 institutional accounts. The book was more than three times covered with total orders exceeding €1.7billion. Final allocation was made primarily to European asset managers and insurers who bought 80% of the issue, with banks  and other investors each taking 10%. A substantial majority of the investors declare a strong preference for Green Bonds.

Jan-Evert Post, head of Funding & Investor Relations at CTP comments:  “We are delighted with the response of bond investors to our recent Green Bond issuance. The ongoing demand for our Green Bonds has allowed us to reduce our cost of funding to 1.6%, compared to 2.2% before our first bond in September 2020.”

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Aurel Constantin | 29/11/2022 | 10:17

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