The Czech real estate group
“The group was the first borrower from our region to issue benchmark green bonds in 2019 and has further strengthened our ESG agenda and capital structure through this innovative transaction,” said
The sustainability-linked bonds – covering wider environmental, social and governance (ESG) issues than green bonds – are tied to the company's goal to reduce greenhouse gas emissions by 30% by 2030 compared to the 2019 baseline. The bonds are subject to a step-up margin of 0.25% in the final two years if the greenhouse gas emissions intensity is not reduced by about 22% by year-end 2027. The maturity date is
According to Sustainalytics, independent second party opinion provider, CPIPG`s targets are assessed as “ambitious” with “very strong” key performance indicators, aligned with the Paris Agreement.
Proceeds from the bonds will be used primarily to fund the full repayment of two bonds, the company stated, CPIPG’s 4.75% notes due
In
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