By Cady Vishniac
Detroit, Dec. 15 – EM-focused CTP BV priced an upsized issue of €400 million 5/8% green bonds due Nov. 27, 2023 (Baa3/BBB-) on Nov. 27, according to a company release.
The issue was upsized from an originally planned €350 million after being oversubscribed several times, with a peak order book of more than €1 billion.
The joint bookrunners of the Regulation S notes are Morgan Stanley & Co. International plc and Goldman Sachs International.
The issue is expected to be listed for trading on Euronext Dublin.
Proceeds will be used to finance a portfolio of eligible green assets.
CTP issued its inaugural €650 million of green bonds on Oct. 1. The company committed in 2019 to certify its portfolio of logistics and industrial projects to the Breeam Very Good standard and higher.
The logistics property company is the largest in the Central and Eastern European sector.
| Issuer: | CTP BV
|
| Issue: | Green bonds
|
| Amount: | €400 million
|
| Maturity: | Nov. 27, 2023
|
| Bookrunners: | Morgan Stanley & Co. International plc and Goldman Sachs International
|
| Coupon: | 5/8%
|
| Pricing date: | Nov. 27
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Distribution: | Regulation S
|
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