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€500m debut green bond issuance for Tritax EuroBox

Liontrust ESG Trust (ESGT)

€500m debut green bond issuance for Tritax EuroBox – Tritax EuroBox has announced the pricing of €500m of senior unsecured green bonds maturing on 2 June 2026, which were significantly oversubscribed, having generated substantial demand from institutional investors.

The 2026 Notes will have a tenor of five years and an annual coupon of 0.95%. This issue will significantly reduce the trust’s cost of debt and represents the first step in diversifying its funding sources into the debt capital markets. The 2026 Notes are rated BBB- (Stable) by Fitch Ratings.

The net proceeds will be used to finance and/or refinance, in whole or in part, a portfolio of eligible assets as outlined in the Green Finance Framework, as announced on 18 May 2021. This will include standing assets as well as contributing to the funding of the trust’s extensive pipeline of new developments and acquisitions.

Statement from the team:

Mehdi Bourassi, Finance Director for Tritax EuroBox, said“Earlier this year we were awarded a BBB- rating by Fitch reflecting the Company’s high-quality portfolio of big-box real-estate assets and their long-term, inflation-indexed leases. We are delighted to have achieved this next step in the Company’s evolution. Across our portfolio, we see significant opportunities to reduce environmental impact, benefitting all our stakeholders. In addition to supporting these objectives, the Green Bond represents attractively priced financing, diversifying our funding sources, significantly reducing our cost of debt and further strengthening our balance sheet.”

Helen Drury, Sustainability Lead for Tritax Group, added: “We are making significant progress in enhancing the sustainability of our portfolio for the benefit of all our stakeholders. We have the opportunity to make a significant and positive contribution to improving the environmental impact of the logistics real estate and construction sectors. Initiatives that deliver best in class sustainable developments, reduce carbon emissions and support energy efficiency will be supported by the proceeds from our first Green Bond.”

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