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European Outlet Mall Venture launches ING-backed debut green bond
['Lewis Berrill']
Property News for Commercial & Residential Sectors at Property Week
European Outlet Mall Venture (EOMV) has launched its debut £642m (€750m) green bond to provide long-term unsecured financing for a portfolio of outlet retail destinations across the Netherlands, Italy and Austria.
EOMV is backed by three major institutional investors and owns a €2.7bn (£2.31bn) portfolio of super-prime designer outlet centres in Italy, the Netherlands and Austria.
The EOMV portfolio is operated by the McArthurGlen Group, owner, developer and manager of designer outlet centres in Europe, operating 21 centres across eight countries.
ING acted as global coordinator, active bookrunner, sole ratings adviser and sole ESG structuring adviser on the transaction.
It also requires dedication from the client in making sure all workstreams are successfully completed.”