CTP announces the signing of a €500 million unsecured syndicated sustainability-linked loan facility and €500 million bond tender offer
27 June 2024 - 5:00PM
Business Wire
Regulatory News:
CTP, Europe’s largest listed developer, owner, and manager of
industrial and logistics properties by gross lettable area (GLA),
announces the successful signing of a 5-year €500 million unsecured
syndicated sustainability-linked loan facility at a fixed all-in
cost of 4.7%.
The unsecured syndicated loan facility allows CTP to further
diversify its funding sources. SMBC Bank EU AG and ING acted as
Global Coordinators and Sustainability Coordinators, while other
banks in the syndicate include BNP Paribas, VUB (Intesa Sanpaolo),
Rabobank, Bank of China, Alpha Bank Group and ICBC.
The proceeds from this unsecured syndicated loan facility will
be used for general corporate purposes including financing of
developments and the concurrent tender offer that was launched.
CTP also launched a concurrent tender offer which will enable
the Group to repurchase short-dated bonds with a total nominal
amount of €500 million as detailed below. This proactive liquidity
management allows the Group to extend its average debt maturity
profile, as well as book a capital gain of €21.3 million.
ISIN
Issue Date
Maturity
Coupon
Outstanding amount at launch (in
million)
Accepted amount (in million)
Outstanding amount after the settlement
of the tender offer (in million)
XS2356029541
21/6/2021
21/6/2025
0.500%
€425.0
€152.7
€272.3
XS2238342484
1/10/2020
1/10/2025
2.125%
€281.8
€97.3
€184.5
XS2434791690
20/1/2022
20/1/2026
0.875%
€575.0
€100.0
€475.0
XS2390530330
27/9/2021
27/9/2026
0.625%
€500.0
€150.0
€350.0
The settlement of the tender offer is expected to take place on
28 June 2024.
About CTP
CTP is Europe’s largest listed owner, developer, and manager of
logistics and industrial real estate by gross lettable area, owning
12.0 million sqm of GLA across 10 countries as at 31 March 2024.
CTP certifies all new buildings to BREEAM Very good or better and
earned a ‘Low-Risk’ ESG rating by Sustainalytics, underlining its
commitment to being a sustainable business. For more information,
visit CTP’s corporate website: www.ctp.eu
Important Information
This announcement is not being made in and copies of it may not
be distributed or sent into the United States, Canada, Australia or
Japan. No offer or invitation to acquire any securities is being
made pursuant to this announcement. The distribution of this
announcement in certain jurisdictions may be restricted by law.
Persons into whose possession this announcement comes are required
to inform themselves about and to observe any such
restrictions.
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CONTACT DETAILS FOR ANALYST AND INVESTOR ENQUIRIES:
Maarten Otte, Head of Investor Relations Mobile: +420 730 197 500
Email: maarten.otte@ctp.eu
CONTACT DETAILS FOR MEDIA ENQUIRIES: Patryk Statkiewicz,
Group Head of Marketing & PR Mobile: +31 (0) 629 596 119 Email:
patryk.statkiewicz@ctp.eu