Clifford Chance

Clifford Chance advises the underwriters in connection with CBRE Global Investors inaugural Green Eurobond

Leading international law firm Clifford Chance acted as counsel to the underwriters in connection with the issuance by CBRE Global Investors on its inaugural Green Eurobond offering of senior unsecured notes.

The €500 million transaction has a maturity of seven years and a coupon of 0.5% and represents CBRE Global Investors' debut bond offering in EMEA. It is believed to be the first ever issuance from a SICAV structure executed directly at the fund level in the investment grade corporate bond market. The bond is structured as a Green Bond with an amount equal to the proceeds from the issuance being allocated to green projects.

Clifford Chance has advised on bond issues and programmes by other real estate companies in the last 12 months including for Logicor, Prologis, CTP, Atrium, SATO, SBB, Hemso, Balder, Sagax and Heimstaden, many of which also include green bonds or green bond capability.

Commenting on the transaction, partner at Clifford Chance, Kate Vyvyan said: "We were delighted to be involved in this offering and to use our leading capital markets, funds, real estate and green expertise to help deliver a successful and innovative transaction for CBRE Global Investors and Goldman Sachs."

The matter was led by partner Kate Vyvyan, with the team in London including US partner Michael Dakin and senior associates Clara Gold and Russell Harris and trainee Amelia McWhirter, and, in Luxembourg, funds partner Kristof Meynaerts.