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St Helier Jersey / Channel Islands – NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE “UNITED STATES”) OR TO ANY U.S. PERSON (AS DEFINED BELOW) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT. ATRIUM EUROPEAN REAL ESTATE LIMITED
ATRIUM RAISES EUR350 MILLION IN MORE THAN THREE TIMES OVERSUBSCRIBED GREEN HYBRID BOND ISSUANCE TO SUPPORT RESIDENTIAL FOR RENT INVESTMENT PROGRAMME
Jersey, 27 April 2021. Atrium European Real Estate Limited (“Atrium” or the “Company” and together with its subsidiaries, the “Group”), a leading owner, operator and redeveloper of shopping centres and retail real estate in Central Europe, announces that it has priced a EUR350 million inaugural green hybrid bond under its EMTN Programme (the “Notes”).
The Notes attracted strong demand with an orderbook of EUR1.2 billion and were placed with a broad range of European and international institutional debt investors, including those investors with a specific focus on ESG/sustainable investment portfolios. The Notes carry a coupon of 3.625% until the first reset date and the issue price of the Notes is 98.197%. The Notes will be callable for the first time on 4 August 2026. The issue date is expected to be on or around 4 May 2021.
An amount equal to the net proceeds of the offering will be allocated to finance or refinance Eligible Projects and/or Assets including residential for rent as defined in Atrium’s Green Financing Framework. Sustainalytics has provided a Second Party Opinion on Atrium’s Green Financing Framework confirming its alignment with the ICMA Green Bond Principles and LMA Green Loan Principles.
Following the issuance, the Company’s reported Net LTV will be 27%, with the long-term target remaining unchanged at 40%.
Atrium will apply for the Notes to be listed on the official list of the Luxembourg Stock Exchange and admitted to trading on the Luxembourg Stock Exchange’s regulated market.
Liad Barzilai, Chief Executive Officer of Atrium Group, commented:
“Atrium’s successful first Hybrid green bond issuance, which was more than three times oversubscribed, is a thorough endorsement of our ongoing strategy to diversify into residential for rent in our key geographies of Poland and the Czech Republic, as well as to the appeal of our ongoing Green Financing Framework to investors. The strong demand and attractive pricing enabled us to increase the aggregated amount to EUR350 million and the issuance will allow us to accelerate both our move into residential and our ESG strategy, whilst further strengthening the Company’s Investment Grade credentials following Moody’s rerating of Atrium to Baa3 stable last week.”
The Notes are expected to be rated Ba2 by Moody’s and BB+ by Fitch and each of Moody’s and Fitch have assigned 50% equity credit to the Notes.
Goldman Sachs International and HSBC acted as global coordinators and Citigroup, Deutsche Bank, Goldman Sachs International, HSBC, ING and Raiffeisen Bank International acted as joint bookrunners on the transaction.
For further information:
FTI Consulting Inc.:
+44 (0)20 3727 1000
Richard Sunderland, Claire Turvey
The Company is established as a closed-end investment company incorporated and domiciled in Jersey and regulated by the Jersey Financial Services Commission as a certified Jersey listed fund, and is listed on both the Vienna Stock Exchange and the Euronext Amsterdam Stock Exchange. Appropriate professional advice should be sought in the case of any uncertainty as to the scope of the regulatory requirements that apply by reason of the above regulation and listings. All investments are subject to risk. Past performance is no guarantee of future returns. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results.
The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction.
Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State is addressed solely to qualified investors (within the meaning of the (EU) Regulation 2017/1129, the “Prospectus Regulation”) in that Member State. Any offer of securities to the public that may be deemed to be made pursuant to this communication in the United Kingdom is addressed solely to qualified investors within the meaning of the (EU) Regulation 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the “UK Prospectus Regulation”) in the United Kingdom.
This document is an advertisement and not a prospectus for the purposes of the Prospectus Regulation, the UK Prospectus Regulation and/or Part IV of the Financial Services and Markets Act 2000 or otherwise, and as such does not constitute an offer to sell or the solicitation of an offer to purchase securities. A base prospectus and drawdown prospectus prepared pursuant to the Prospectus Regulation has been published, which can be obtained from the website of the Luxembourg Stock Exchange. Investors should not subscribe for or purchase any securities referred to in this document except on the basis of the information in the base prospectus and the drawdown prospectus.
This communication is addressed only to and directed only at (i) persons who are outside the United Kingdom 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 communication 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 document or any of its contents.
This communication is not for public release, publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia). This communication 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. 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 or to, or for the account or benefit of, U.S. persons (as such term is 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.
end of announcement euro adhoc
issuer: Atrium European Real Estate Limited
Seaton Place 11-15
UK-JE4 0QH St Helier Jersey / Channel Islands
phone: +44 (0)20 7831 3113
stockmarkets: Wien, Luxembourg Stock Exchange
Digital press kit: http://www.ots.at/pressemappe/2915/aom
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For further information:
FTI Consulting Inc.:
+44 (0)20 3727 1000
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