White Peak has successfully issued its inaugural green bond
RE IV Limited (the “Company”), a subsidiary of White Peak Real Estate IV L.P., has successfully issued its first green bond of SEK 600 million under its recently established green bond framework.
The bond has a three-year tenor and fixed rate coupon of 9 percent. The issue was over-subscribed.
For the Swedish/Chinese real estate developer White Peak sustainability is a clear and integrated part of the company’s business. The bond will finance green residential development in accordance with White Peak’s Green Bond Framework. To ensure alignment with international standards and practices White Peak has obtained an external review from CICERO resulting in a verification of Medium Green.
“White Peak is playing a significant role in meeting China's aspirations for future urban development by introducing Swedish technology, processes and approaches towards sustainability and community integration. This green bond represents a unique opportunity for European institutions to invest in sustainable real estate development in some of the most dynamic urban regions in the world”, says White Peak CEO Jesper Jos Olsson.
SEB and Pareto Securities acted as Joint Bookrunners for the transaction with SEB as sole green structuring advisor regarding the establishment of the framework for green bonds and Second Opinion. The company intends to list the bond on Frankfurt Open Market with a subsequent listing on Nasdaq Stockholm within 12 months.
“It is great to see how White Peak succeeds with leading building standards into mainland China and through this bond offering allows our clients to finance Green Buildings in the region under parameters addressing both Swedish and Chinese standards. It is also, seen from a financial angle, important to establish investment vehicles allowing capital accessibility to this new and interesting market place - we hope this to be the first of many such transactions.” Christopher Flensborg, Head of Climate & Sustainable Finance, SEB.
The information was provided for public release on July 1st, 2019.
For more information, please contact:
Jesper Jos Olsson, CEO and Founding Partner | +86 1366 1876 034 |
Karen Xu, Head of Investor Relations | +86 158 2156 4358 |
About White Peak
White Peak is a residential developer benefiting from the continuous and rapid urbanisation in China, targeting the growing middle-income class in underserved large cities (5-10 million population). Limited partners of White Peak Fund IV are some of the largest Swedish national pension funds. The company has a full in-house development platform and 360 employees. White Peak is headquartered in Beijing and has a main focus on residential development in the Shandong, Hebei and Liaoning Provinces (with a total population of c. 250m).