Strengthen the financial situation
Montea is securing its financial needs until mid-2022 with this transaction – a comfortable position in these uncertain times. The bonds represent a nominal amount of 235 million euros, divided into a tranche of 50 million euros with a financing date of April 27, 2021 and a maturity of April 27, 2031 (duration of 10 years), a tranche of 30 million euros with a financing date of June 23, 2021 and maturing on June 23, 2031 (duration of 10 years), a tranche of 85 million euros with financing date January 4, 2022 and maturity January 4, 2034 (duration of 12 years), and a tranche of 70 million euros with a financing date of June 23, 2021 and maturing on June 23, 2036 (duration of 15 years).
The bonds were placed in a US private placement with six major international investors. Montea has considerably optimized its financing strategy thanks to this transaction.
This U.S. private placement was launched amid the COVID-19 crisis. The question was extremely well received; the target amount has been oversubscribed several times. This reflects the market’s confidence in Montea’s strong credit profile.
‘Montea has strengthened its financing structure with this diversification and these unique maturities. The average maturity of Montea’s debts has been considerably lengthened to an average coupon well below the current cost of debt. We are grateful for this successful transaction, despite the current COVID-19 crisis, as it places Montea in a very strong investment position. Els Vervaecke, Chief Financial Officer, Montea
Sustainability: a mission
Montea is aware of the social impact of its activities and constantly seeks to find the right balance between all relevant stakeholders. The proceeds of these bonds will be used exclusively to (re) finance eligible sustainable assets such as certified buildings, renewable energies, energy efficiency programs, etc., in accordance with the sustainability criteria defined within the framework of green finance. .
Montea’s Green Funding Framework and Part Two Positive Opinion can be viewed on the Investor Relations page of the company’s website https://montea.com/investor-relations/
‘Our main objective is to continue to use our expertise in logistics real estate to invest in sustainable and long-term real estate projects that create added value for our clients, shareholders, society and other stakeholders. Jo De Wolf, Managing Director, Montea
ING Financial Markets LLC and BNP Paribas Securities Corp. acted as arrangers and advisers for the structuring of this green bond issue.