The net proceeds will be used for general corporate purposes, including potential acquisitions of outlet centers and capital expenditure programmes across VIA Outlets’ existing portfolio of 11 premium outlet centers. Additionally, the proceeds will support the concurrent partial tender of VIA Outlets’ existing €600 million 1.75% Notes due November 2028.
Sustainability at Work
In line with VIA Outlets’ Green Finance Framework, an amount equal to the net proceeds will be allocated to finance and/or refinance new or existing Eligible Green Projects. The framework is supported by a Second Party Opinion from Sustainable Fitch, which rated the Use of Proceeds and Annual Allocation and Impact Reporting as ‘Excellent’, in accordance with market standards.
“The high demand from investors for VIA Outlets’ green bonds underlines our strong performance track record and success of our 3R strategy – remodelling, remerchandising and remarketing, which has been delivered whilst maintaining a robust balance sheet and financial position. The capital raised provides additional liquidity to grow the business, whilst proactively extending our debt maturity profile.”
Peter Stals, Chief Financial Officer at VIA Outlets
“Our latest green bond issuance is an enabler of both VIA Outlets’ organic and inorganic growth strategies, with the upcoming opening of two expansion projects in Portugal and Switzerland – and more in the pipeline, as well as the renewed momentum in investment markets that is increasing acquisition opportunities. Our core ESG values overlay both of these twin strategies and we remain committed to sustainable growth as we capitalize upon opportunities to invest and create value.”
Otto Ambagtsheer, Chief Executive Officer of VIA Outlets
The Notes will be listed on Euronext Dublin (Global Exchange Market). BNP PARIBAS, ING, and SMBC acted as Active Bookrunners for the transaction, with ING also serving as ESG Structurer. The Notes have been assigned a BBB+ credit rating by Fitch Ratings, in line with VIA Outlets’ corporate rating.
