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Xior raises €100M to bet on green projects
15 April 2020 |

Xior Student Housing - the Belgian real estate investment trust specialized in student housing in Belgium, the Netherlands, Spain and Portugal - has issued its first debt capital markets transaction by means of a 100 million euro Green US Private Placement.

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The notes have a notional amount of 100 million euro split between a 34 million euro tranche with a 6 year tenor and a 66 million euro tranche with a 12 year tenor, bearing a coupon of 1.92% (for the 6 year notes) and 2.32% (for the 12 year notes). The notes are issued under Xior’s newly established Green Finance Framework, dated 13 March 2020.

Proceeds will be used exclusively to (re)finance green buildings, renewable energy, energy efficiency, waste management, clean transportation and water management projects which are also aligned with the UN Sustainable Development Goals (SDGs). All Eligible projects and assets have to provide direct environmental benefits and are required to meet the eligibility criteria reported in the Green Finance Framework.

Christian Teunissen, CEO of Xior Student Housing said : «The fact that we can successfully complete this process to secure long-term financing from an internationally renowned investor at an attractive rate, especially in these uncertain times, represents a new milestone in our financing strategy, as it demonstrates the solid credit profile of Xior as well as our commitment to our ESG goals. It underscores our capacity to diversify and further extend our funding sources and attract international financing. This new green bond extends our debt maturity further at a financing cost that remains the same and therefore positions us well to meet any challenges and seize any opportunities in the period to come».

 «This milestone transaction marks the first private placement issued by Xior. Raising long-term institutional financing as an inaugural issuer in one of the most volatile markets while underlining Xior’s commitment to sustainability confirms the company’s successful growth strategy. We are proud to have supported Xior in further diversifying their funding sources via this transaction», add David de Weerd (Director Debt Capital Markets ABN AMRO) and Dick Schotman (Director Corporate Banking Belgium ABN AMRO).

Press Released by Xior Student Housing