Landsec has launched and priced its inaugural £400m green bond with a maturity of 9.5 years, paying a coupon of 4.875%, subject to final legal documentation.
The developer said the transaction further enhances its financial capacity and flexibility and builds on an ‘already strong position’ with the company ‘extremely well placed to continue delivering against its strategy in the years ahead’.
Vanessa Simms, chief financial officer at Landsec, added: “I am delighted to be issuing our first green bond, illustrating Landsec’s continuing green leadership credentials in the real estate sector. The transaction clearly demonstrates Landsec’s ability to access competitively priced capital in more challenging market conditions and, as a result, Landsec remains well placed to perform as the economy transitions to a higher interest rate environment.”
