EQS-News: CPI PROPERTY GROUP / Key word(s): Real Estate/ESG
CPI PROPERTY GROUP – Sustainability-linked Bilateral Loan
06.03.2023 / 08:16 CET/CEST
The issuer is solely responsible for the content of this announcement.
CPI Property Group
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254
Press Release - Corporate News
Luxembourg, 6 March 2023
CPI PROPERTY GROUP – Sustainability-linked Bilateral Loan
CPI PROPERTY GROUP (“CPIPG”, the “Company” or together with its subsidiaries the “Group”), a leading owner of income-generating European real estate, is pleased to report the signing of our debut Sustainability-linked Loan through a bilateral facility with MUFG.
“Once again, CPIPG has demonstrated our ability to access diverse and innovative sources of financing,” said David Greenbaum, CFO of CPIPG.
The senior unsecured loan totals €100 million, with a bullet maturity of 5 years. Pricing on the loan is comparable to the Group's existing financing and includes a sustainability “step up / step down” feature based on the Group’s sustainability targets. The proceeds will be used for debt repayment and general corporate purposes.
In keeping with CPIPG’s commitment to reduce the greenhouse gas (“GHG”) emissions intensity of our property portfolio by 32.4% through 2030 versus the 2019 baseline, the loan’s margin will step up or step down on an annual basis from 2023 onwards. By year-end 2026, CPIPG needs to reduce GHG emission intensity by 20.6%.
GHG emissions intensity is expressed as tonnes of CO2 equivalent per square metres of property portfolio. Sustainalytics, as independent second-party opinion provider, assessed CPIPG’s targets as “ambitious” with “very strong” key performance indicators aligned with the Paris agreement.
For further information, please contact:
Investor Relations
David Greenbaum Moritz Mayer
Chief Financial Officer Manager, Capital Markets
d.greenbaum@cpipg.com m.mayer@cpipg.com
For more on CPI Property Group, visit our website: www.cpipg.com
Follow us on Twitter (CPIPG_SA) and LinkedIn
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