News


CA Immo successfully issues a EUR 350 m green bond

Strong demand for inaugural green issuance with a high-quality orderbook oversubscribed more than 5.4 times at final terms

Vienna, 20 October 2020. CA Immo (“the Company”) successfully placed a EUR 350 million fixed rate senior unsecured green bond with a 5-year maturity and an annual coupon of 1.0%. The issuance was oversubscribed more than 5.4 times at final terms with strong demand by more than 150 investors.

The bond will trade on the Official Market of the Vienna Stock Exchange. The international rating agency Moody’s Investors Service Ltd. has assigned an investment grade rating of Baa2 to the bond. 

CA Immo intends to use the net proceeds of the bonds in particular for further growth and the optimisation of its financing structure and other general corporate purposes. The expected net proceeds will be largely used to finance or re-finance green buildings in accordance with our Sustainability Bond Framework. This includes the potential financing or re-financing of commercial properties that either have been certified by green building certification schemes including LEED or DGNB Gold or have a primary energy requirement that is at least 25% below the levels prescribed by local standards such as the German Energy Saving Ordinance (EnEV) or PENB (Czech Republic).

Andreas Schillhofer, CFO of CA Immo: “As a top player in the European real estate sector, we fully support the United Nations climate targets and the associated transition to a low-carbon, sustainable economy. In order to meet the associated requirements in the best possible way and to secure our long-term competitiveness, we anchor appropriate measures, processes and objectives in our strategic positioning. With the green bond transaction, we strongly underpin this commitment and at the same time take advantage of the opportunity to further strengthen our financing structure and reduce our average financing costs.”

J.P. Morgan Securities plc and Morgan Stanley & Co International plc acted as Joint Global Coordinators. UniCredit Bank AG and Raiffeisen Bank International AG acted as Joint Bookrunners and Joint Sustainability Structuring Agents to the Issuer along with J.P. Morgan Securities plc and Morgan Stanley & Co International plc. Sustainalytics has provided the Second Party Opinion on the Company’s Sustainability Bond Framework.

 

About CA Immo

CA Immo is an integrated investor, manager and developer of modern, high quality office properties in the key gateway cities of Germany, Austria and Central- and Eastern Europe based in Vienna. The Company covers the entire value chain in the commercial property sector. More than 400 employees at 8 core strategic cities (Vienna, Munich, Frankfurt, Berlin, Warsaw, Prague, Budapest and Bucharest) plan, build and operate office properties to the highest standards. Founded in 1987, the company is listed on the ATX of the Vienna Stock Exchange. CA Immo owns and manages property assets of around EUR 5.2 bn in Germany, Austria and Central- and Eastern Europe. Of this figure, income-producing investment properties account for around EUR 4.5 bn (86% of total property portfolio), property assets under development (including active projects under construction and land reserves) represent EUR 0.7 bn (13% of total property portfolio) with the remainder being short-term properties held for trading or sale. With a proportion of slightly more than 50% of total property assets, Germany accounts for the biggest regional segment.

 

Disclaimer

The information contained in this announcement is not for release, publication or distribution, directly or indirectly, in, into or to any person located or resident in the United States of America, Australia, Canada, South Africa, Japan, Singapore or into other countries in which the release, publication or distribution of this announcement may be unlawful. This announcement is intended for advertising purposes within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (“Prospectus Regulation”) and in connection with the admittance of the securities to trading on a regulated market; it does not purport to be full or complete and is no financial analysis, an advice or a recommendation relating to financial instruments, nor an offer, solicitation or invitation to buy or sell securities referred to. The final prospectus relating to the securities, when published, will be available on the website of the Company (www.caimmo.com). The securities referred to have already been sold. The information contained in this announcement is for information purposes only. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness The distribution of this announcement and the offer and sale of the securities referred to herein may be restricted by law in certain jurisdictions and persons reading this announcement should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Any offer of securities to the public, as referred to in this announcement, in an EEA Member State and in the United Kingdom was exclusively addressed to qualified investors (within the meaning of the Prospectus Regulation) in that Member State or in the United Kingdom. This announcement does not constitute a recommendation concerning the private placement of such securities. Investors should consult a professional advisor as to the suitability of the private placement for the person concerned. This announcement is addressed only to and directed only at (i) persons who are outside the United Kingdom of Great Britain and Northern Ireland or (ii) investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as “Relevant Persons”). Any investment activity to which this announcement relates will only be available to and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this announcement or any of its contents. This announcement is not for public release, publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not and does not constitute or form a part of any offer of, or solicitation to purchase or subscribe for, any securities in the United States of America. Any such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”). Any such securities may not be offered or sold in the United States of America or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act. No public offering of securities will be made in the United States of America. MiFID II target market: eligible counterparties and professional clients only (all distribution channels). No PRIIP key information document (KID) has been prepared. No sales to EEA or United Kingdom retail investors. A securities rating is not a recommendation to buy, sell or hold securities. Ratings may be subject to revision or withdrawal at any time, and each rating should be evaluated independently of any other rating.

None of the Joint Bookrunners or any of their respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company or any of its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. In connection with the issue of the securities, the Joint Bookrunners and any of their affiliates, acting as investors for their own accounts, may subscribe for or purchase the securities of the Company and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such securities and other securities of the Company or related investments in connection with this securities offering or otherwise. The Joint Bookrunners do not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.