WDP rated A3 by Moody’s debuts with inaugural €500 million Green Bond
WDP rated A3 by Moody’s debuts with inaugural €500 million Green Bond
WDP has successfully issued a 500 million euros Green Senior Unsecured Bond maturing in 2031, marking its debut on the public bond market under the company’s newly established Euro Medium Term Note (EMTN) programme. Backed by strong demand from a broad base of high-quality investors, the order book was almost 7 times oversubscribed at its peak and 3.5 times at final pricing, enabling WDP to price at a spread of 80 basis points. The bond carries a fixed interest rate of 3.175% and has a 5.25 year duration.
The issuance and EMTN programme follow Moody’s recent upgrade of WDP’s long-term issuer rating to A3 (stable outlook) from Baa1, highlighting WDP’s solid operating fundamentals, disciplined financial policy and strong liquidity profile. This transaction reinforces WDP’s consistent access to capital market and its position among Europe’s highest-rated listed real estate companies.
Our debut public bond marks another milestone in WDP’s evolution as one of Europe’s leading listed logistics platforms. It demonstrates investor confidence in the solid fundamentals of the logistics real estate market, our core European footprint and ESG commitments. This inaugural bond puts the strength of our balance sheet to work as driver of long-term value creation.
Strong investor demand highlights WDP’s sustainable growth and top-tier credit quality
The issuance is intended to support the growth ambitions and targets as set out in its #BLEND2027 growth plan, while further strengthening the company’s liquidity position, hedge ratio and debt mix. Proceeds from the Eurobond will be allocated under WDP’s updated Green Finance Framework – which received an overall “Excellent” score from Sustainable Fitch as Second Party Opinion.
We are proud that WDP’s debut in the Euro Debt Capital Markets was met with exceptional demand, with a peak order book of nearly 3.5 billion euros and one of the tightest debut spreads ever achieved by a listed European REIT. This strong reception reflects investor confidence in WDP’s credit profile, resilient fundamentals and disciplined execution – and it supports our long-term ambition to deliver consistent earning growth backed by a strong, liquid balance sheet.