VGP keeps real estate debt splurge going

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By Mike Turner
31 Mar 2021

VGP, the Belgian logistics real estate company, has made its debut in the bond markets with green trade that found chunky demand. The deal was the second debut benchmark from a European real estate credit in as many days.

VGP, rated BBB- with Fitch, opened books on an April 2029 green deal at 190bp-195bp over mid-swaps. JP Morgan and KBC were coordinators, with Belfius and BNP Paribas joining as active bookrunners.

“Logistics is one of the sectors that has done well out of Covid,” said a syndicate ...

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