MAS Real Estate issues EUR 300 mln green bond to finance projects in Romania
MAS Securities, the financing arm of MAS Real Estate - a property investor in Central and Eastern Europe with a focus on Romania - has priced a EUR 300 million unsecured “green” 5-year Eurobond maturing on 19 May 2026, carrying a 4.25% fixed coupon, with an issue price of 98.903%.
Moody’s and Fitch assigned the Bond a Ba1 and BB rating, in line with the corporate rating.
The European Bank for Reconstruction and Development (EBRD) has successfully subscribed to a EUR 24.7 mln ticket as part of the issue. The Bank’s investment will support the acquisition of green properties and the development of green and sustainable retail and residential assets, predominantly in Romania and potentially in the wider CEE region.
The bond issue, used to finance and refinance green commercial real estate in CEE, is underpinned by a green financing framework aligned with the International Capital Market Association’s Green Bond Principles and the Loan Market Association’s Green Loan Principles.
Sustainalytics provided an independent second-party opinion on the framework’s environmental credentials and its alignment with the current market standards for green bonds.
MAS Real Estate has pledged to achieve green building certification – at a minimum, the BREEAM ‘Very Good’, LEED ‘Gold’ or acceptable equivalent – for all CEE investment property acquired or developed in the future and for at least 90% of its existing investment properties in the region.
(Photo source: Dreamstime.com)