Bron
Shurgard
Shurgard, the largest developer, owner and operator of self-storage centers in Europe, is pleased to announce the successful inaugural issuance of Senior Unsecured Green Notes for an aggregate nominal amount of €300 million.
Details:
- Coupon (%): 1.24%;
- Funding date: July 23, 2021;
- Maturity date: July 23, 2031;
- US Private Placement (“USPP”) denominated in €.
This offering was extremely well received by the market with a strong level of oversubscription from institutional accounts located in North America, the UK and Europe. The proceeds from this issuance will be used to refinance the upcoming €100 million USPP tranche maturing on July 24, 2021 as well as to finance other green initiatives to support Shurgard’s continue growth.
Shurgard will allocate the funding in ways to facilitate an effective response to global challenges such as climate change. Shurgard believes that a green bond issuance is a valuable way of demonstrating commitment to addressing these issues to its internal and external stakeholders. The selected assets will be highlighted in the annual report, together with other sustainable financing actions taken by the group. Shurgard will publish annual updates in a Green Bond Report on its website ESG landing page.
Marc Oursin, Shurgard’s Chief Executive Officer, commented: “With this first €300 million Green USPP, Shurgard further strengthens its balance sheet. We are pleased with the success of this transaction and we are in a very strong position to grow alongside the global economic recovery. “
