Vonovia issues bonds to raise €2.5b to finance projects, but is there still a problem?

On Tuesday, German-listed residential giant Vonovia described how it was raising funds via two green bonds and for the first time, a social bond. But at the same time, Green Street's pan-European residential sector head, Andres Toome, wrote in a note that the company should pursue a ‘roadmap’, suggesting acquisitions should be ‘off the table’ while selective asset disposals should take priority, the proceeds of which should be used to deleverage the balance sheet.

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