French diversified real estate investment trust Covivio issued a €500 million green bond due 2031 with a coupon of 1.125%, its second such bond.
The company expects settlement to occur Sept. 17 and plans to use the proceeds to finance or refinance more than 190,000 square meters of offices under development in Paris, Lyon and Milan through four projects that are 64% pre-leased on average.
The REIT previously issued a €500 million green bond in 2016, with proceeds used to finance the development of 185,000 square meters of green offices in France.
