15
October
2020
|
22:54
Europe/Amsterdam

Vesteda signs EUR 100-mln green financing agreement

Vesteda today signed its first green private placement with two new debt investors. This private placement – made up of two EUR 50-million placements – has a term of 10 and 15 years with interest rates of 1.03% and 1.38%. By the end of December Vesteda will receive the proceeds of the private placement.

Vesteda intends to use the proceeds of this private placement to (re)finance the energy-efficient homes in its residential portfolio. The financing has two purposes; firstly to finance homes with an A energy label and, secondly, to finance homes that Vesteda is planning to make more sustainable, by upgrading them by at least two label levels to a minimum of a C energy label. Vesteda will report on any energy savings and CO₂ reductions realised in the homes, and this reporting will be verified by an independent party.

Frits Vervoort, Vesteda CFO: “Sustainability is an essential part of our strategy for the long-term value development of our residential portfolio. Thanks to our strong focus on sustainability, we are also eligible for green forms of financing, such as this green private placement.”