Aedas Homes issues a bond for €325M at an annual interest rate of 4%

Aedas Homes issues a bond for €325M at an annual interest rate of 4%

Aedas Homes has issued a green bond worth325 million euros. The company has completed this operation at an annual interest rate of 4% maturing in August 2026. The investor appetite of this bond has resulted in an over-demand of more than five times the supply, among which the demand of Spanish investors with more than 100 million euros has stood out.

The issue has the endorsement of international rating agencies. S&P, Fitch and Moody's have reflected in their analysis the corporate credit quality of Aedas. In this way, they have given it the highest rating in the development sector with B +, BB- and Ba2, respectively. In addition, they have assessed the credit risk of the issuance of their bond with an even higher rating: BB-, BB and Ba2.

«This operation, carried out in optimal conditions, allows us to underpin the strategy of diversification and optimization of our sources of financing», underlines María José Leal, CFO of the developer, who emphasizes that «the excellent credit quality of Aedas Homes translates into greater flexibility and optionality in financing».

The company will allocate a part of the funds raised to amortize existing corporate debt. The rest will be used to boost the company's business, including the investment plan. In addition, the developer agrees to invest at least the same amount of the issue in sustainable projects that have the highest existing ratings from an environmental point of view.

Goldman Sachs, Citibank, Deutsche Bank, JP Morgan and Bestinver participated in this bond issue, developed on the Irish stock market. Moreover, this operation is accompanied by a revolving line of working capital financing (RCF) of 55 million euros subscribed between the previous financial entities, together with Banco Santander, BBVA, Société Générale and Banco Sabadell.

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