Derwent London has raised £350m through its first sterling-denominated senior unsecured green bond.
The company sold the 10-year bonds with an interest rate of 1.875%. They are expected to be rated ‘A’ by Fitch Ratings.
Derwent will use the proceeds to repay part of its revolving credit lines, including a £300m green tranche, which in turn had refinanced a number of green projects.
Chief financial officer Damian Wisniewski said: “The bonds will help fund our current net-zero carbon projects and form part of our pathway to becoming a net-zero carbon business by 2030.”
Bookrunners were Barclays, HSBC, NatWest Markets and Wells Fargo Securities.
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