Press Release

White & Case Advises Bank Syndicate on First 'Green Bond' for European Real Estate Company

Global law firm White & Case LLP has advised Merrill Lynch International and Crédit Agricole CIB, the Global Coordinators, and the other joint lead managers on the issue by Unibail-Rodamco of its €750 million, 2.5 percent 'green bonds' due 2024.

Unibail-Rodamco is Europe's leading listed commercial property company and the transaction represents the first green bond issuance for a real estate business in the European market. The proceeds of green bonds are used to finance brownfield and/or existing assets which meet specific social, environmental and sustainable criteria.

The Unibail-Rodamco issuance will help finance the construction and development of new or ongoing projects, as well as existing assets which have obtained a BREEAM certification – an environmental assessment method and rating system for buildings – that also meet other social and environmental criteria developed with and validated by Vigeo, European expert in assessing companies and organizations in relation to their practices and performance on environmental, social and governance issues.

The White & Case capital markets team in Paris which advised on this transaction was led by partner Cenzi Gargaro with the support of counsel Elsa Imbernon and associate Petya Georgieva.

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