ZUG ESTATES HOLDING AG Press release
September 4, 2019
Zug Estates becomes the first Swiss real estate company to successfully place a fixed-income green bond in the amount of CHF 100 million
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Zug Estates Holding AG today became the first listed Swiss real estate company to successfully place a green bond in the amount of CHF 100 million. The bond has a coupon of 0.1 per cent and a term of six years.
The proceeds will be used for the exclusive refinancing of outstanding short-term loans relating to the construction of three buildings at "Baufeld 1" of the Suurstoffi site in Rotkreuz. The buildings, which include Switzerland's highest wooden high-rise, comprise a total of 26,000 m2 in lettable office and commercial space, meet the most stringent sustainability standards and offer measurable environmental added value.
This green bond is also allowing Zug Estates to diversify its financing structure and extend the residual term of its financial liabilities.
Bank Vontobel AG and Credit Suisse AG served as joint lead managers and joint bookrunners for the issue. Application for listing on the SIX Swiss Exchange will be requested. Payment date of the green bond is expected to be October 2, 2019.
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