By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, April 27 – Goodman Group affiliate Goodman US Finance Five LLC sold $500 million of 4.625% 10-year notes on Wednesday, a market source said.
The notes priced at a spread 185 basis points over Treasuries compared to talk for a spread in the 200 bps area.
HSBC Securities (USA) Inc., ING, J.P. Morgan Securities and RBC Capital Markets, LLC were the bookrunners for the Rule 144A and Regulation S offering.
The company set up its sustainability-linked bond framework in April, with a second-party opinion from Sustainalytics.
Proceeds from sustainability-linked bonds under the company’s framework are generally slated for general corporate purposes. However, the company’s key performance indicators target a reduction in Scope 1 and 2 greenhouse gas emissions.
In February, Goodman Group upgraded its 2022 operating EPS growth forecast to 20%.
The commercial and industrial property owner, developer and management company is based in Sydney, Australia.
| Issuer: | Goodman US Finance Five, LLC
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| Amount: | $500 million
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| Issue: | Sustainable notes
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| Maturity: | May 4, 2032
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| Bookrunners: | HSBC Securities (USA) Inc., ING, J.P. Morgan Securities and RBC Capital Markets, LLC
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| Coupon: | 4.625%
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| Spread: | Treasuries plus 185 bps
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| Trade date: | April 27
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| Distribution: | Rule 144A and Regulation S
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| Marketing: | Investor calls
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| Price talk: | Treasuries plus 200 bps area
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