Zug Estates becomes the first Swiss real estate company to successfully place a fixed-income green bond in the amount of CHF 100 million Mittwoch, 04. September 2019 - 17:35
Press release
September 4, 2019
Zug Estates becomes the first Swiss real estate company to successfully place a fixed-income green bond in the amount of CHF 100 million
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OR FOR "NON- QUALIFIED INVESTORS" IN THE EUROPEAN ECONOMIC AREA (THE "EEA") OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
Zug Estates Holding AG today became the first listed Swiss real estate company to successfully place a green bond in the amount of CHF 100 million. The bond has a coupon of 0.1 per cent and a term of six years.
The proceeds will be used for the exclusive refinancing of outstanding short-term loans relating to the construction of three buildings at "Baufeld 1" of the Suurstoffi site in Rotkreuz. The buildings, which include Switzerland’s highest wooden high-rise, comprise a total of 26,000 m2 in lettable office and commercial space, meet the most stringent sustainability standards and offer measurable environmental added value.
This green bond is also allowing Zug Estates to diversify its financing structure and extend the residual term of its financial liabilities.
Bank Vontobel AG and Credit Suisse AG served as joint lead managers and joint bookrunners for the issue. Application for listing on the SIX Swiss Exchange will be requested. Payment date of the green bond is expected to be October 2, 2019.
Upcoming events:
05.09.2019 | Publication of Sustainability Report and Sustainability Forum
14.09.2019 | Suurstoffi Open Day
06.03.2020 | Publication of Annual Result
07.04.2020 | General Meeting
For further information, please contact:
Mirko Käppeli, CFO, T +41 41 729 10 10, ir@zugestates.ch
About Zug Estates
The Zug Estates Group conceives, develops, markets and manages properties in the Zug region. It focuses on central sites which are suitable for a wide range of uses and allow sustainable development. The real estate portfolio comprises the two sites in Zug and Risch Rotkreuz. The Group also runs a city resort in Zug incorporating the two leading business hotels Parkhotel Zug and City Garden, augmented by a range of restaurant outlets. As at June 30, 2019, the total portfolio value was CHF 1.61 bn.
Zug Estates Holding AG is listed on the SIX Swiss Exchange, Zurich, (ticker symbol: ZUGN; securities number: 14 805 212).
