CTP to issue another €400 in green bonds

CTP is following up its success in issuing €650 million in bonds in October with another tranche worth €400 million. It's part of a move away from bank financing to the capital markets, taking advantage of the cheap price of money at the moment. New three year bonds have a fixed annual coupon of 0.625 percent, according to CTP's financial director Richard Wilkinson. "In view of our strategy, which counts on the transfer of debt financing to primarily unsecured debt, we saw issuing three-year bonds as a good opportunity," he told E15. As in the October issuance, these new bonds will be Green bonds. Wilkinson said that originally, the plan was to issue just €350 million, but that demand from investors was so high that they decided to increase the amount to €400 million. "Once again, we're very pleased by the volume and the breadth of support for CTP bonds. "Our second Green bond will allow us to further reduce our debt expenses," said Wilkinson.