Amsterdam,
14
January
2021
|
07:00
Europe/Amsterdam

Vastned announces new financing

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. and Coöperatieve Rabobank 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.

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About Vastned

Vastned is a listed European retail property company (Euronext Amsterdam: VASTN) focusing on ‘venues for premium shopping’. Vastned invests in selected cities in Europe with a clear focus on the best retail property in the most popular high streets in the bigger cities. Vastned's tenants are strong and leading international and national retail brands. The property portfolio had a size of approximately € 1.5 billion at 30 June 2020.