URW returns to Euro bond market with €750m green placement

Unibail-Rodamco-Westfield (URW) has successfully placed a green bond of €750 mln with a 7-year maturity and a 4.125% fixed coupon.

The issuance is URW’s first green bond in the Euro bond market since 2015.

The bond received strong demand from investors, achieving an oversubscription of 6.1 times and an order book of more than €4.5 bn at its peak, reflecting the high level of debt investors’ appetite for URW’s credit, the firm said.

The proceeds from the bond will enhance the group’s cash position to €5.8 bn on a proforma basis as at September 30, 2023, while extending its average debt maturity.

The bond will finance or refinance eligible green assets in line with the group’s 2022 green financing framework.

URW said that the bond aligned with the group’s sustainability strategy and its 'better places roadmap' shared with the market on October 10, 2023, to create positive environmental and social impacts.


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