Record interest in Accolade's green bonds: CZK 3 billion issue sold out in two weeks

by   CIJ News iDesk III
2024-07-03   08:40
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Accolade, an international investor specializing in modern industrial parks, has made history by becoming the first issuer of green bonds in Czech currency. Initially, the company planned to issue CZK 1.5 billion worth of bonds, but due to overwhelming demand, the volume was doubled. In just two weeks, bonds worth CZK 3 billion were sold, with a minimum investment amount of CZK 10,000. These bonds, featuring a five-year maturity and an annual interest rate of 8 percent, are now listed on the Regulated Market of the Prague Stock Exchange.

“The record interest in Accolade bonds confirms that investors, whose trust we value greatly, recognize the importance of sustainable investments. It also validates our decision to invest in high-quality industrial parks over a decade ago,” stated Milan Kratina, CEO of Accolade.

In preparation for the green bond issuance, Accolade developed a Green Finance Framework. This set of guidelines, aligned with the EU Taxonomy, outlines the principles Accolade commits to in executing its projects. The framework received an independent review from Sustainalytics.

Accolade invests in industrial parks across eight European countries, adhering to the stringent standards of BREEAM New Construction 2016 certification. The company’s portfolio includes notable sites like Cheb South Industrial Park, which achieved an “Outstanding” rating with a record score of 94.2 percent, and Park Szczecin III in Poland, the first in the country to earn such a high rating. In total, Accolade boasts six BREEAM-certified facilities at the “Outstanding” level. The company also prioritizes investments in post-industrial areas, which make up nearly 30 percent of its assets.

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