The German living has placed two green corporate bonds totaling 1 billion euros on the capital market for the first time. The bonds have an average term of 15 years and an average interest rate of 0.9 percent. According to the real estate company, the issue was significantly oversubscribed.
Deutsche Wohnen intends to use the net proceeds from the issue to finance green projects, such as the construction of climate-friendly buildings or the energy-efficient renovation of existing buildings. According to its own statements, the company wants to be climate-neutral by 2040. “The very successful placement of our first green bonds is clear evidence of the attractiveness and future viability of our business model,” said Philip Grosse, CFO of Deutsche Wohnen, on the transaction.