€300 Million Green Bond: McDermott advises SIGNA Development Selection AG on successful Bond Issuance Debut

Overview


Frankfurt, July 26, 2021 – McDermott Will & Emery has advised SIGNA Development Selection AG (”SIGNA Development”), one of Europe’s leading real estate developers, on its successful debut bond issuance. The senior unsecured bond was issued by a wholly owned subsidiary of SIGNA Development. The bond has an aggregated principal amount of €300 million, a 5-year maturity and a 5.5% p.a. coupon. It meets the requirements of the Green Bond Principles of the International Capital Market Association (ICMA) and was placed with institutional investors in an international private placement, including in the US with qualified institutional buyers pursuant to Rule 144A under the US Securities Act. The principal documentation for the transaction is governed by German law. The issuance is SIGNA Development’s first international capital markets transaction and represents the first placement of a green bond by a real estate developer in the DACH region this year.

The team advising SIGNA Development Selection AG was led by Frankfurt Partner Simon Weiß (Capital Markets) ) and included Partners Joe Marx (US Capital Markets) and Jens Ortmanns (Real Estate) as well as Partners Maximilian Clostermeyer, Pierre Brandt, Ulrich Flege, Jan Hückel (all Real Estate), Oliver Lieth and Dustin Schwerdtfeger (both Finance), Eric Orsic, Richard Mitchell and Ted Laurenson (all US Capital Markets), Philipp Grenzebach and Florian Lechner (both Corporate), Nina Siewert, Heiko Kermer and Greg Weigand (all Tax), Todd Solomon (ERISA), Associates Andreas Skupien, Markus Hunkenschröder, Sara Brinkmann, Frederic Peine, Elena Platte, Tina Zeller, Christoph Schäfer and Lisa Feth as well as Transaction Lawyers Maria Bretschneider and Ardalan Zargari.

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