(AOF) – Covivio successfully placed 500 million euros of Green Bonds, maturing in June 2032. This issue was oversubscribed almost 4 times. The proceeds of the issue are intended to finance or refinance the eligible Green portfolio as defined under the Sustainable Bond Framework, including the refinancing of existing green bonds. The issue’s spread stands at 168 bps at 8.5 years for a coupon of 4.625%.
The issue will be widely varied in order to take advantage of the group’s very good coverage situation (90% debt covered at the end of 2023; 5.8 years average maturity of coverage).
Until the redemption of the issue maturing in October 2024, Covivio will also have very favorable investment conditions.
This will thus limit the impact on the average cost of debt, which should remain below 2.5% by 2027 (based on the current debt profile and current market conditions).
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