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    SPSN   CH0008038389

SWISS PRIME SITE AG

(SPSN)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe Europe - 09/27 06:29:41 am
93 CHF   +0.16%
01:36aSWISS PRIME SITE : Unit Secures Real Estate Asset Management License
MT
01:12aSWISS PRIME SITE : awarded FINMA licence
PU
01:01aSwiss Prime Site Solutions awarded FINMA licence
DJ
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Swiss Prime Site: Sustainable refinancing through a green bond

11/26/2020 | 06:20am EDT

Swiss Prime Site: Sustainable refinancing through a green bond

  • Placing of a green bond amounting to CHF 300 million.
  • Embedding sustainability in the financing strategy

Placing of a green bond amounting to CHF 300 million.

On 26 November 2020, Swiss Prime Site successfully placed a green bond - a bond focused on sustainability - amounting to CHF 300 million on the market. The issue met with widespread interest from institutional investors and offers them the opportunity to actively participate in Swiss Prime Site's sustainability goals. Markus Meier, CFO of Swiss Prime Site: «We are proud to be one of the first companies in Switzerland, and specifically in the real estate industry, to be implementing sustainability goals in our financing strategy. The funds received will entirely be used in real estate projects that meet high sustainability standards. The bond also lengthens the lease expiry profile of external financing and improves the diversification of the investor base and our strategic flexibility.» The bond runs until 2029 and was issued on attractive terms. The transaction was managed by Credit Suisse AG (Green Bond Framework Advisor and Joint Lead Manager) and Zurich Cantonal Bank (Joint Lead Manager).

Embedding sustainability in the financing strategy

Sustainability is an integral component of Swiss Prime Site's corporate strategy and business operations. The targets set forth by the United Nations, the Paris Agreement and the Federal Government's Energy Strategy 2050 form the basis for defining and reviewing the company's long-term strategic orientation. The company will monitor scientific, social and environmental developments across all business fields, define topics for focussed action and apply standards and benchmarks. Swiss Prime Site applies this expertise in a targeted fashion in the existing property portfolio and the project pipeline, with the aim of reducing CO2 emissions and ultimately achieving climate neutrality well before 2050. The bond was issued on the basis of the Green Bond Framework, which enables Swiss Prime Site to also embed sustainability at the level of company financing.




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All news about SWISS PRIME SITE AG
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Analyst Recommendations on SWISS PRIME SITE AG
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Financials
Sales 2021 856 M 923 M 923 M
Net income 2021 427 M 460 M 460 M
Net Debt 2021 5 162 M 5 565 M 5 565 M
P/E ratio 2021 16,7x
Yield 2021 3,58%
Capitalization 7 054 M 7 623 M 7 605 M
EV / Sales 2021 14,3x
EV / Sales 2022 15,1x
Nbr of Employees 1 455
Free-Float 99,8%
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Mean consensus HOLD
Number of Analysts 6
Last Close Price 92,85 CHF
Average target price 98,80 CHF
Spread / Average Target 6,41%
EPS Revisions
Managers and Directors
RenÚ Zahnd Chief Executive Officer
Markus Meier Chief Financial Officer
Ton BŘchner Chairman-Supervisory Board
Christopher Michael Chambers Member-Supervisory Board
Mario F. Seris Vice Chairman-Supervisory Board