Vastned

    

Green Revolving Credit Facility

€ 40 million
Financial Adviser
;

Vastned

Financial Adviser

Kempen acted as Financial Adviser to Vastned in securing a new committed Green Revolving Credit Facility of €40 million.

Kempen acted as Financial Adviser to Vastned in securing a new committed Green Revolving Credit Facility of €40 million. The credit facility will be used to (re)finance energy-efficient commercial and residential real estate that contributes to the preservation of historic city centres.

Transaction highlights

  • Vastned has developed a Green Finance Framework with the aim to (re)finance energy-efficient commercial and residential real estate
  • This framework will contribute to the preservation of historic city centres and is in line with the Green Bond Principles 2018 and Green Loan principles 2020
  • The new arrangement in which Kempen acted as financial advisor Vastned’s first credit facility secured under the Green Finance Framework
  • A new committed €40 million Green RCF in which ABN AMRO and Rabobank each participate for €20 million
  • Reinier Walta, Interim-CEO & CFO at Vastned commented: “We are pleased to announce the Green Finance Framework as well as our first financing agreement under this framework. The new Green RCF increases our funding flexibility and underscores that sustainability is an integral part of our mission, strategy and organization.”
  • Guus de Haan, Executive Director Debt Advisory at Kempen added: “The new committed credit facility is reflective of the strong performance of Vastned in challenging market conditions. We congratulate Vastned with this successful outcome.”

About the company

  • Vastned is a listed European retail property company with assets in The Netherlands, France, Spain and Belgium
  • The company invests in selected cities in Europe with a clear focus on the best retail property in the most popular high streets in the bigger cities
  • Vastned's tenants are strong and leading international and national retail brands. The total property portfolio had a value of approximately € 1.5 billion on 30 June 2020

Contact

Dick Boer
Guus de Haan

Transactions