Landsec has issued a £350m 10 year 4.625% green bond. At a spread of 97bps over Gilts.

The issuer is Landsec subsidiary, Land Securities Capital Markets PLC.

In Landsec’s Green Financing Framework, they point to the fact that the built environment accounts for almost 25% of all emissions in the UK.

Under the framework, Landsec will use proceeds from green financing instruments for: green buildings (construction, acquisition and refurbishments), renewable energy projects, and energy efficiency projects.

Landsec CFO, Vanessa Simms, commented: “This transaction further enhances Landsec’s strong financial capacity, flexibility and maturity profile. This is our second bond issuance of the year, and in both cases, the order books were multiple times over-subscribed with competitive pricing, demonstrating the strength of demand for our credit. Landsec remains well-placed to fund its development programme and investment in acquisition opportunities.”