Amsterdam, 14 January 2021 -Vastned, the listed European retail property company focusing on 'venues for premium shopping', today announces the Vastned Green Finance Framework, and has agreed a new committed Green Revolving Credit Facility under this framework of € 40 million, in which ABN AMRO and Rabobank each participate for € 20 million.
Sustainability forms an integral part of Vastned's mission, strategy and organisation. To anchor sustainability in Vastned's financing, Vastned has developed a Green Finance Framework ('Framework'). The aim of the Framework is to (re)finance energy-efficient commercial and residential real estate that contributes to the preservation of historic city centres. Under this Framework Vastned may issue a range of green financing instruments.
Under the Framework Vastned has already agreed a new committed € 40 million Green Revolving Credit Facility ('Green RCF') in which ABN AMRO Bank N.V. andCoöperatieveRabobank U.A. each participate for € 20 million. The Green RCF has a 3-year duration and a floating interest that is in line with market conditions. In addition, Vastned has reduced an earlier 'uncommitted multi-purpose facility' with ABN AMRO from € 30 million to € 20 million. The new facility expands Vastned's available credit facilities. In 2021 and 2022 none of the credit facilities in Vastned's loan portfolio will expire.
Sustainalytics, a leading company in ESG research, ratings and data, has verified the Vastned Green Finance Framework and found it to be in line with the Green Bond Principles 2018 and the Green Loan Principles 2020.
The Framework and Sustainalytics' second party opinion can be inspected on
www.vastned.com/en/investor-relations/green-finance-framework.
Attachments
Original document
Permalink
Disclaimer
VastNed Retail NV published this content on 14 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 January 2021 06:07:07 UTC
Vastned Retail N.V. is a European listed property company focusing on the best retail property on the popular high streets of selected European cities with a historic city centre, also referred to as « core city assets ». The tenants of VastNed Retail N.V. include international and national department stores that are leading in their sector; major luxury, fashion and sports brands; supermarkets; and a wide range of other retailers.
By investing in historic city centres Vastned Retail N.V. contributes to the preservation of the cultural heritage in these city centres. Vastned Retail N.V. also provides a positive contribution to the liveability and safety in city centres by creating and renovating residential space above retail units. In this way, the company endeavours to create long-term value for its shareholders, tenants, employees and society as a whole.
At year-end 2023, the group's real estate portfolio amounted to EUR 1,373 million. Over 80% of the portfolio is comprised of property located in the historic centres of selected European cities. The remainder of the portfolio is mostly made up of Belgian retail parks, supermarkets and high-quality retail property in smaller cities in the Netherlands and Belgium.
VASTNED RETAIL N.V. 
