China’s $167 billion mega-dam in Tibet faces strict scrutiny to access green financing https://t.co/F2BvE4hMdP ...

Core Points - VGP NV announced a tap issuance of €76 million in additional senior unsecured Green Bonds, subscribed by the European Bank for Reconstruction and Development (EBRD) [2] - The total outstanding amount of green bonds now stands at €576 million, which includes the existing €500 million green bonds due on 29 January 2031 [3] - The net proceeds from the issuance will exclusively finance or refinance eligible Green Projects aligned with VGP's Sustainable Finance Framework [4] Company Overview - VGP is a pan-European owner, manager, and developer of high-quality logistics and semi-industrial properties, as well as a provider of renewable energy solutions [8] - As of December 2024, VGP's gross asset value was €7.8 billion, with a net asset value (EPRA NTA) of €2.4 billion [8] - The company operates in 18 European countries and has around 380 full-time employees [8]

Core Viewpoint - Landsvirkjun successfully issued green bonds totaling USD 150 million, exceeding the original target of USD 125 million due to strong investor interest [1] Group 1: Bond Issuance Details - The bonds have maturities of 6 and 8 years and were issued in three tranches, with two tranches having fixed interest rates of 5.17% and 5.37%, reflecting spreads of 115–125 basis points over U.S. Treasury bonds [2] - The third tranche features a floating interest rate indexed to SOFR with a spread of 144 basis points, and the issuance is covenant-free, indicating investor confidence in the company's financial position [2] Group 2: Role of Placement Agents - Barclays Capital Inc. and ING Financial Markets LLC served as joint placement agents for the bond issuance [3] Group 3: Use of Proceeds - Proceeds from the bond issuance will finance Landsvirkjun's power projects, including the Vaðalda Wind Farm, which will be Iceland's first wind power plant, and the Hvammur Hydropower Station, the eighth hydroelectric power plant in the Þjórsá and Tungnaá region [4] Group 4: Green Financing Framework - The bonds are issued under Landsvirkjun's Green Financing Framework, which ensures that proceeds are exclusively used for projects with positive environmental and climate impacts [5]