This article is from the Australian Property Journal archive
MAJOR malls landlord Vicinity Centres has announced its first green bond with the issuance of $300 million of six-year AUD-denominated medium term notes.
The green bond has been issued under Vicinity’s sustainable finance framework, which is aligned with global market standards for sustainable debt and the United Nations sustainable development goals. Both the framework and the green bond pre-issuance process underwent assurance by KPMG.
Bank of America, Commonwealth Bank, Scotiabank and Westpac acted as joint lead managers for the issue.
Settlement of the senior and unsecured notes is expected to occur on 2nd June.
“Vicinity is an industry leader in sustainability, and we are pleased to leverage our green credentials to deliver our inaugural green bond issuance. Our commitment to creating sustainable precincts and our significant investment in transitioning our assets to a low carbon economy, over a number of years, has been recognised by investors as part of this issuance,” Grant Kelley, CEO and managing director of Vicinity said.
Strong demand from investors delivered an oversubscribed issuance, according to Vicinity.
