Stoneweg European Real Estate Investment Trust (REIT), formerly Cromwell European REIT, has successfully raised €500 million through its first green bond issue, reflecting overwhelming investor confidence. The newly emitted bond was five times oversubscribed, attracting demand over €2.4 billion from more than 100 major international debt investors.
The six-year bonds were taken up by institutional investors, with proceeds to be used almost immediately to redeem the outstanding notes due November 2025, for general corporate purposes and to finance eligible green assets and projects.
Last week, Stoneweg European REIT updated its Green Financing Framework, originally established in April 2022, to reflect updates to its name change, in alignment with its sponsor, the common platform Stoneweg and Icona Capital.
Stoneweg Icona Capital Platform with its subsidiaries and associates, is the sponsor and 28% substantial unitholder of Stoneweg European REIT. The venture by alternative investment group Icona Capital and real estate investment group Stoneweg currently has around €9bn of assets under management.
