Dutch residential real estate investor Vesteda said on Wednesday that it has successfully issued a €500 mln bond with a term of eight years and a coupon of 2%.
‘We are very pleased that we have successfully issued our first €500 mln bond under our EMTN programme. In line with our funding strategy this transaction further strengthens our capital structure, reduces our cost of capital and improves our debt maturity profile’, commented Frits Vervoort, Vesteda’s CFO.
This is Vesteda’s third corporate bond under its €2 bn EMTN programme.
About two weeks ago, the company acquired a €1.5 bn Dutch residential real estate portfolio. Proceeds of the bond issue will be used to refinance the bridge facility related to that purchase as well as for general corporate purposes, Vesteda announced.