Tritax EuroBox is preparing to market its first bond issuance, a green deal that it hopes will raise €500m (£431m).
The logistics investor will kick off four days of fixed-income investor calls tomorrow (21 May), led by fund manager Nick Preston, finance director Mehdi Bourassi (pictured) and Helen Drury, sustainability lead for the Tritax Group. A green bond sale could then happen as early as next week.
The proceeds will be used to finance or refinance buildings identified under the company’s newly published Green Finance Framework. That strategy includes buying green assets and improving the sustainability credentials of existing assets.
Bourassi told EG that the framework is “a statement from the company that we take ESG very seriously”. He added: “It’s not just about the portfolio we have today, it’s about the future. We would like our portfolio to be sustainable for the very long term, and we can see that in the longer term, assets that are not sustainable will not be so easily let.”
The planned green bond issuance has been rated BBB- by Fitch and is expected to have a tenure of five to seven years. BNP Paribas is acting as green structuring agent and also as joint bookrunner, the latter role alongside Bank of America.
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