Appleby also advised the Group on its subsequent launch of a €500 million unsecured 7 year Green Bond maturing on 14 July 2027, carrying a 3.375% fixed coupon, with an issue price of 98.172%. This was the Group’s debut green bond issue.
NEPI Rockcastle is the premier owner and operator of shopping centres in Central and Eastern Europe and has developed a green finance framework under which the Company has committed to use proceeds from Green Bond issue to finance and/or refinance existing and/or future projects which improve the environmental performance of the Group’s property portfolio and contribute to the Company’s climate impact mitigation objectives. Application has been made for listing the Bond with Euronext Dublin.
The Appleby team was led by corporate partner Kyle Sutherland with support from associate Sophie Corkish. Commenting on the transaction, Kyle Sutherland, said: “We were delighted to work once again with long standing client NEPI Rockcastle on such a significant and interesting transaction. Our Isle of Man team has built a significant track record advising on bond issuances by Isle of Man and BVI companies over the last few years.”