DGAP-News: SIGNA Real Estate Management GmbH / Key word(s): Bond/Real Estate
19.07.2021 / 14:11
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SIGNA Development Selection AG successfully places first green bond in the amount of €300m
Vienna, July 19, 2021 - SIGNA Development Selection AG (SDS), one of Europe's leading real estate developers, has successfully issued its first green bond. The Senior Unsecured Green Bond issue - SDS's first capital market transaction - has a volume of €300 million, a 5-year maturity and a 5.50% p.a. coupon. The bond, issued by SIGNA Development Finance S.C.S., a wholly owned subsidiary of SDS, and backed by a guarantee from SDS, was placed with institutional investors, mainly from Europe, and it was significantly oversubscribed. 100% of the proceeds from this bond will be invested in suitable sustainable projects. This issue represents the first placement of a green bond by a real estate developer in the DACH region in 2021.
With this first capital market transaction, SDS - as a major real estate developer in Europe with a gross development value of €8.4b - will expand and strengthen its capital base.
Issuing green financing instruments is a part of SIGNA's comprehensive sustainability strategy and contributes to the reallocation of capital market flows to sustainable investments. SIGNA Development Selection AG adheres to a guiding principle of sustainable, future-proof development.
Manuel Pirolt, CFO SIGNA Development Selection AG: "With our first listed bond, we have successfully positioned ourselves in the capital market and significantly expanded our investor base. The high demand underscores the attractiveness of our offer and the level of conviction of our investors. We are pleased to see this confidence placed in us and see this as a confirmation of our strategic orientation."
This green bond meets the requirements of the Green Bond Principles of the International Capital Market Association (ICMA) as well as those of SDS's Green Finance Framework. This framework aggregates the eligibility criteria according to which SDS allocates sustainable net issue proceeds. These include sustainable real estate projects and the development of buildings with green building certifications or investments to improve energy efficiency and to promote renewable energy and sustainable mobility within the project portfolio.
This announcement does not constitute an offer to purchase or a solicitation of an offer to buy any securities in the United States, Canada, Japan, Australia or any other jurisdiction in which an offer is restricted by law. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States of America to or for the account or benefit of U.S. persons absent registration under the U.S. Securities Act or an exemption from registration.
This announcement is directed at or for distribution in the United Kingdom only to (i) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities (institutional investors) falling within Article 49(2)(a) to (d) of the Order (all such persons being referred to as "relevant persons"). This announcement is directed only at relevant persons. No other person should act or rely on this announcement or any of its contents.
The securities are not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise made available to, retail investors in the European Economic Area ("EEA") and the United Kingdom. For the purposes of this provision, "retail investor" means a person who meets one (or more) of the following criteria: (i) it is a retail investor within the meaning of Article 4(1)(11) of MiFID II; (ii) it is a client within the meaning of Directive (EU) 2016/97 to the extent that such client does not qualify as a professional client within the meaning of Article 4(1)(10) of MiFID II; or (iii) it is not a qualified investor within the meaning of Regulation (EU) 2017/1129 ("Prospectus Regulation"). Accordingly, no key information document required under Regulation (EU) 1286/2014 ("PRIIPs Regulation") or required for the offer or sale or other making available of the Bonds to retail investors in the EEA has been prepared; therefore, the offer or sale or other making available of the Securities to retail investors in the EEA and the UK may be unlawful under the PRIIPs Regulation. In the UK, MiFID II, the Prospectus Regulation and PRIIPs Regulation are part of national law via the European Union (Withdrawal) Act 2018 ("EUWA").
This document contains forward-looking statements, which are not statements of fact and are identified by the words "expect", "believe", "estimate", "intend", "seek", "assume" and similar expressions. These statements represent the intentions, beliefs or current expectations and assumptions of SIGNA Development Selection AG and are based on current plans, estimates and projections made by SIGNA Development Selection AG to the best of its knowledge, but are not guarantees of future performance. Forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and are usually beyond the control of SIGNA Development Selection AG. Actual events or developments may differ materially from those indicated or contained in the forward-looking statements.
About SIGNA Development Selection AG
SIGNA Development Selection AG is the second largest of a total of five SIGNA Real Estate companies. It acquires, develops and optimises classic commercial and residential real estate as well as retail space and hotels, often as mixed-use properties, and even entire city districts in economically strong urban centres in the German-speaking regions of Europe. The company pursues a "buy - develop - sell" strategy.
At the end of 2020, SDS's gross asset value amounted to €3.5b. In a dynamic market environment, SDS has successfully held its own since the company was founded in 2014, and it has been growing profitably year after year. This has made it possible for SDS - currently with over 50 projects on the go - to become one of Europe's largest project development companies.
The SDS portfolio includes, for example, the Berlin project developments UP!, STREAM, Schönhauser Allee 9 and BEAM, which will in future offer modern office and commercial spaces in central locations in the German capital. In Austria, the PARKAPARTMENTS AM BELVEDERE, located in one of Europe's largest urban development areas, the Hotel Andaz Vienna Am Belvedere and the BEL & MAIN Vienna are part of a series of ambitious urban real estate developments.
With its projects, SIGNA Development Selection AG makes important contributions to the development of cities. SDS does not just focus on the individual property; it reconceptualises issues such as inner city development, sustainability, diversity of use, networking and mobility. For livable cities - for all of us. Additional information is available at www.signa.at.
SIGNA Development Selection AG
Tel.: +43 1 5329848-0
19.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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