PL

CTP issues bonds worth EUR 650 mln

Investment & finance
CTP issued green bonds worth EUR 650 mln on October 1st 2020 – the largest debut issue by a CEE real estate company.

The bonds, which were rated Baa3 (stable) by Moody’s and BBB- (stable) by S&P, were oversubscribed with an order book worth over EUR 2 bln.

The bonds were distributed widely, being sold primarily into to managers (60 pct) with most of the demand coming from the UK (32 pct), the DACH region (22 pct), Benelux (20 pct) and with CEE investors accounting for 10 pct of the deal. Morgan Stanley acted as the exclusive rating and green structuring advisor.

CTP chose to issue Green Bonds following its 2019 commitment to BREEAM certify its entire portfolio of logistics and industrial projects with a rating of 'Very Good' or above.

CTP operates 100 parks across Central Europe serving over 500 tenants and has a market-leading position in multiple CEE countries and the company is targeting carbon neutral operations by 2023.



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