Swiss Prime Site issues Green Bond
Swiss Prime Site has placed a CHF 300 million sustainability-oriented bond on the market.
According to the real estate company, the green bond was placed on the market on 26 November 2020; the issue met with broad interest among institutional investors.
According to CFO Markus Meier, this makes Swiss Prime Site one of the first companies in Switzerland, and particularly in the real estate sector, to implement sustainability goals in its financing strategy. "The funds raised will be used in full for real estate projects that meet high sustainability standards. "In addition, the bond, which was issued on the basis of the Green Bond Framework, extends the maturity profile of the debt financing and increases the diversification of the investor base as well as strategic flexibility.
The bond has a term until 2029 and, according to the company, was issued "at attractive conditions". The transaction was supported by Credit Suisse as Green Bond Framework Advisor and Joint Lead Manager and by Zürcher Kantonalbank as Joint Lead Manager. (ah)
