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