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EBRD invests 24.7 mln euro in MAS Real Estate's green bond to back acquisitions in Romania, CEE

May 14, 2021, 12:57:04 PMArticle by Nicoleta Banila
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May 14 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said that it has invested 24.7 million euro ($29.8 million) in an inaugural green bond issued by a subsidiary of MAS Real Estate in order to support the company's new acquisitions in Romania and central and eastern Europe (CEE).

EBRD invests 24.7 mln euro in MAS Real Estate's green bond to back acquisitions in Romania, CEE
MAS Real Estate shopping mall - render Source: EBRD

The bank’s investment in MAS Securities' five-year 300 million euro green bond issuance will support the acquisition of green properties and the development of green and sustainable retail and residential assets, predominantly in Romania and potentially in the wider CEE region, the EBRD said in a press release on Thursday.

MAS Securities is wholly owned by MAS Real Estate, an investor and operator of property assets listed in Luxembourg and Johannesburg. MAS Real Estate has pledged to achieve green building certification – at a minimum for all CEE investment property acquired or developed in future and for at least 90% of its existing investment properties in the region.

At the end of 2020, the group had total assets of 1.2 billion euro, including exposure to 55 income-producing properties, either held directly or through its joint venture with Prime Kapital, with 654,400 sq m of gross leasable area, generating 67.9 million euro of annualised total revenue.

Its current CEE portfolio is concentrated in Romania but the group also has two shopping malls in Bulgaria and one in Poland.

($=0.8286 euro)

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