NEPI Rockcastle prices an EUR 500 million unsecured green bond
NEPI Rockcastle plc
Incorporated and registered in the Isle of Man
Registered number 014178V
Share code: NRP
(“NEPI Rockcastle” or “the Company” or “the Group”)
NEPI ROCKCASTLE PRICES AN EUR 500 MILLION UNSECURED GREEN BOND
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OR
TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY OTHER
JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL
NEPI Rockcastle’s wholly owned subsidiary, NE Property B.V., has closed the green corporate bond book build referred
to in the announcement released yesterday. NE Property B.V. has priced a green €500 million unsecured 8-year
Eurobond maturing in January 2030 (“the Bond”), carrying a 2% fixed coupon, with an issue price of 98.713%. S&P
and Fitch assigned the Bond BBB ratings, in line with the EUR4 billion EMTN Programme rating and the corporate
rating. The net proceeds will be allocated to eligible green projects included in the portfolio selected in accordance with
the use of proceeds criteria and selection process as defined in the Company’s Green Finance Framework developed in
2020 (the “Framework”).
The Bond benefitted from a strong demand, with an oversubscribed book that peaked over €1.5 billion, reflecting
international bond investors’ confidence in NEPI Rockcastle’s credit quality. The issue achieved broad institutional
distribution, selling to asset managers (78%), banks (12%) and other types of institutional investors, with demand
coming from a multitude of geographies like France (34%), UK/Ireland (24%), DACH region (15%) and Benelux (15%).
A significant part of the issuance was again placed with green driven investors, similar to the 2020 green bond issuance.
Application has been made for listing the Bond with Euronext Dublin. The Joint Lead Managers on this bond issue were
Citi, ING, J.P. Morgan, Société Générale and UniCredit.
NEPI Rockcastle is committed to issuing green bonds as per the Framework, which provides that proceeds are used to
finance and/or refinance existing and/or future projects which improve the environmental performance of the Group’s
property portfolio and contribute to the Company’s climate impact mitigation objectives. The Framework is available
on NEPI Rockcastle’s website and benefits from a Second Party Opinion provided by Sustainalytics.
The securities described herein have not been and will not be registered under the U.S. Securities Act of 1933, as
amended (the “Securities Act”) and may not be offered, sold or delivered within the United States or to or for the
account or benefit of U.S. persons, as defined in Regulation S under the Securities Act.
This communication is being distributed to and is directed only at persons in the United Kingdom having professional
experience in matters relating to investments, falling within Article 19(5) of the Financial Services and Markets Act
2000 (Financial Promotions) Order 2005 (the “Order”), and persons falling within Article 49(2) of the Order (all such
persons together being referred to as “relevant persons”). In the UK, this communication must not be acted on or relied
on by persons who are not relevant persons. In the UK, any investment or investment activity to which this
communication relates is available only to relevant persons and will be engaged in only with such persons.
EEA MiFID II professionals/ECPs-only/No EEA or UK PRIIPS KID - Manufacturer target market (MIFID II product
governance) is eligible counterparties and professional clients only (all distribution channels). No EEA or UK PRIIPs
key information document (KID) has been prepared as not available to retail in EEA or UK.
This communication is not an offer of securities or investments for sale nor a solicitation of an offer to buy securities or
investments in any jurisdiction where such offer or solicitation would be unlawful. No action has been taken that would
permit an offering of securities or possession or distribution of this announcement in any jurisdiction where action for
that purpose is required. Persons into whose possession this announcement comes are required to inform themselves
about and to observe any such restrictions.
Credit ratings referred to in this communication should not be taken as recommendations by a rating agency to buy,
sell or hold Notes. They may be revised, suspended or withdrawn at any time by the relevant rating agency.
In addition, this announcement is not being distributed to, and must not be passed on to, the general public in the United
Kingdom and is not intended to be an invitation or inducement to engage in investment activity for the purpose of Section
21 of the Financial Services and Markets Act 2000 of the United Kingdom (as amended, the “FSMA”). In the United
Kingdom (the “UK”), this announcement is directed only at persons (i) who have professional experience in matters
relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the “Financial Promotion Order”), (ii) who are high net worth entities, and other
persons to whom it may lawfully be communicated, falling within Article 49(2) of the Financial Promotion Order, or
(iii) to whom an invitation or inducement to engage in investment activities within the meaning of section 21 of the
FSMA in connection with the issue or sale of any New Notes may otherwise lawfully be communicated or caused to be
communicated (all such persons together being referred to as “relevant persons”). In the UK, any investment or
investment activity to which this announcement relates is only available to relevant persons and will be engaged in only
with relevant persons. This announcement must not be acted on or relied on by persons who are not relevant persons.
This announcement is not an offer of securities or investments for sale nor a solicitation of an offer to buy securities or
investments in any jurisdiction. No action has been taken that would permit an offering of the New Notes or possession
or distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose
possession this announcement comes are required to inform themselves about and to observe any such restrictions.
A rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal
at any time by the assigning rating organisation.
For further information please contact:
NEPI Rockcastle plc
Alex Morar/Mirela Covasa +44 1624 654 704
Java Capital +27 11 722 3050
Euronext Listing Agent
ING Bank +31 20 563 6685
Media Relations email@example.com
14 January 2022
Date: 14-01-2022 01:00:00
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