Landsec issues first green bond

Landsec issues first green bond

Landsec’s wholly-owned subsidiary Land Securities Capital Markets on Thursday announced the launch and pricing of its inaugural £400m green bond with a maturity of 9.5 years, paying a coupon of 4.875%, following the publication of Landsec’s updated Green Financing Framework.

The transaction further enhances Landsec’s financial capacity and flexibility, building on an already strong position, said the commercial property development company.

”Coupled with a pipeline of central London and mixed use development opportunities that offer excellent optionality, the transaction leaves Landsec extremely well placed to continue delivering against its strategy in the years ahead.”

Vanessa Simms, Chief Financial Officer at Landsec said: “I am delighted to be issuing our first green bond, illustrating Landsec’s continuing green leadership credentials in the real estate sector.

“The transaction clearly demonstrates Landsec’s ability to access competitively priced capital in more challenging market conditions and, as a result, Landsec remains well placed to perform as the economy transitions to a higher interest rate environment.”