From Vanilla to Green, APG-Owned VIA Outlets Raises €600 million in Green Bond

Posted on 11/24/2021

In August 2020, APG Asset Management N.V. acquired a 50% interest in VIA Outlets from its joint venture partner Hammerson PLC. APG took full control of VIA Outlets. In November 2021, VIA Outlets B.V. raised €600 million offering of 1.750% senior notes due 2028. The proceeds of the offering of the notes will be used to repay certain of VIA’s existing secured bank debt and to pay transaction fees and expenses. This is the first “green bond” ever issued by an outlet owner-operator in Europe. VIA Outlets is an owner-operator of sustainable premium fashion outlet shopping destinations throughout Europe operating 11 outlet centers across nine countries in Europe. VIA is Europe’s largest single-owner operator of outlet centers and the third largest European outlet center operator by gross leasable area overall as of September 30, 2021.

Law firm Shearman & Sterling advised the issuer VIA Outlets B.V. on the bond raise. Shearman & Sterling also advised VIA in connection with VIA’s new €100 million revolving credit facility.

Keywords: Stichting Pensioenfonds ABP.

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