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Commentary & Deal Flow

NEW ISSUE: Net Zero Properties EUR550m WNG 4y Sr Unsec Green Bonds, IPT 5.75% area

HYC European Market: Deal Flow - General

Security

Tranche Size

IPT

Senior Unsecured Notes due 2030

EUR550m WNG

5.75% area


  • Price Progression:
    • IPT: 5.75% area
  • Issuer: Net Zero Properties S.à r.l.
  • Ticker: NZPNZP
  • Size: EUR550m WNG
  • Format: Reg S, Bearer, Green Bond (New Global Note)
  • Security: Senior Unsecured Notes due 2030
  • Expected Issue Ratings: BB+ (positive) by Fitch
  • Maturity: 23-September-2030 (4y)
  • Optional Redemption: MWC, 3m Par Call, Tax Call, Clean-up Call (80%)
  • Change of Control: CoC
  • Denominations: 100kx100k
  • Reg S ISIN: XS3487810734
  • Listing: Euro MTF Market of the Luxembourg Stock Exchange
  • Law: German
  • Joint Global Coordinator / Joint Bookrunner and Sustainability Structurer: Citigroup, Goldman Sachs International (B&D)
  • Settles: 23-September-2026
  • Trade Date: 09-September-2026
  • UOP: Acquisition financing (Sapphire portfoliio EUR300m) and general capital expenditure (EUR53m cash on hand), repayment of existing junior debt (EUR172m) and payment of transaction-related costs. The issuer intends to apply an amount equal to the net proceeds from the issuance of the Notes to finance or refinance Eligible Green Projects as per their Sustainable Finance Framework.
  • Biz: a privately owned, fully integrated German residential real estate platform with a portfolio of residential properties located in Western and Northern Germany,. HQ: Luxembourg
  • Equity sponsor: Attegia Holding (Dr Ingo Krocke)
    Marketing: did a series of fixed income investor calls starting on 07-Sep-26
  • Books open: today's business
  • NetRoadshow: URL: www.netroadshow.com, Entry Code: NZP2026, Direct Link: www.netroadshow.com/nrs/home/#!/?show=e87fd577