Successful third green bond issue by Vesteda

This week Vesteda successfully issued its third green bond. The 500 million euro bond has a term of 8 years and a coupon of 4%. ING acted as the sole Green Structuring Advisor, together with ABN AMRO, Rabobank and SMBC as Joint Bookrunners. The bond will be listed on Euronext Amsterdam. Vesteda’s external credit rating by S&P recently got reconfirmed A-, and the new bond obtained a similar rating. 

The proceeds of the green bond will be allocated to homes with a minimum EPC label A, homes which have made an improvement of primary energy demand of at least 30% (up to a minimum EPC label of C), and new build homes that have an energy performance at least 10% better than the threshold for Nearly Zero-Energy Buildings (‘NZEB’). Vesteda will report on the allocation of the proceeds, on the estimated energy savings and greenhouse gas emission avoidance of this green bond.