AKROPOLIS GROUP's Green Notes: Listing on Major Exchanges
AKROPOLIS GROUP, UAB Green Notes Listing Plans
After a remarkable EUR 350 million issuance of green notes with a five-year maturity period, AKROPOLIS GROUP, UAB, is setting the stage for its instruments to be traded on both Euronext Dublin and Nasdaq Vilnius stock exchanges. This initiative not only highlights the company's commitment to sustainable finance but also marks a significant moment in its growth journey as a front-runner in shopping and entertainment center development.
Strategic Dual Listing on Euronext and Nasdaq
The decision to list these green notes simultaneously on two major exchanges is rooted in strategic foresight. Euronext Dublin is recognized for its vast market of eurobonds, providing AKROPOLIS GROUP with invaluable access to a broader spectrum of international investors. This enhanced visibility is expected to attract more interest and foster healthy investment activity, particularly for local investors participating in the Nasdaq Vilnius exchange.
Details of the Green Notes Issuance
The recent issuance comes with a fixed annual coupon rate and a yield set at 6.000%, translating to a final public offering price of 100%. This financial product has earned a commendable BB+ rating by both Fitch and S&P, reflecting a stable outlook and sound fiscal management. The maturity date is set for 15 May 2030, further emphasizing a long-term commitment to investors.
Market Response and Investor Interest
The placement of these notes amid fluctuating market conditions underscores a significant achievement for AKROPOLIS GROUP, particularly with a reported order book reaching EUR 1.1 billion, making it over three times oversubscribed. This high demand resonates with investors' growing confidence in the sustainability and reliability of the firm's strategy.
Sustainable Growth through Green Finance Framework
AKROPOLIS GROUP leverages proceeds from the green notes to align with the principles laid out in its Green Finance Framework. By doing so, the company is not just diversifying its funding avenues, but also reinforcing its position as a leading participant in responsible market activities. The funds raised through this issuance will directly support projects that contribute to environmental sustainability.
Engagement with International Investors
The issuance drew significant interest from diverse investment communities, particularly asset managers and banks across the UK, continental Europe, and the Baltic and Northern regions. This wide-ranging investor base speaks volumes about AKROPOLIS GROUP's robust market position and appeal within the financial ecosystem.
Collaboration with Leading Financial Institutions
AKROPOLIS GROUP partnered with prominent banks during the issuance process, including ING, Citi, and SEB. Such collaborations underscore the company's commitment to maintaining high standards of financial and legal advisory during its operations. Legal guidance was provided by the well-regarded firms Clifford Chance LLP and TGS Baltic, ensuring that all transactions adhered to legal frameworks.
Acknowledgment of Professional Services
Additionally, the precision of the issuance process was supported by the expertise of renowned auditors, PricewaterhouseCoopers, ensuring transparency and trust throughout the procedures. This level of professional support enhances confidence among existing and potential investors.
Contact Information for Further Inquiries
For additional information regarding the green notes issuance or the activities of AKROPOLIS GROUP, please reach out to:
Dominykas Mertinas
Head of Marketing and Communications
AKROPOLIS GROUP, UAB
+370 64027001
Email: dominykas.mertinas@akropolis.lt
Frequently Asked Questions
What is the primary purpose of AKROPOLIS GROUP's green notes?
The green notes aim to secure funding for projects that align with environmentally sustainable practices, showcasing AKROPOLIS GROUP's commitment to sustainability.
What ratings were assigned to the green notes?
The green notes have been rated BB+ by both Fitch and S&P, indicating a stable financial outlook.
Why is dual listing significant for the green notes?
Dual listing enhances visibility, attracts a broader range of investors, and boosts liquidity in the investment market for AKROPOLIS GROUP.
Who were the main banks involved in the issuance?
AKROPOLIS GROUP collaborated with ING, Citi, and SEB for the green notes issuance, benefiting from their extensive market expertise.
How can investors contact AKROPOLIS GROUP for more information?
Investors can reach out to Dominykas Mertinas, the Head of Marketing and Communications, via email or phone for further details.
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