Argo advises VGP on its €600 million green bond issuance and concurrent €100 million tender offer

Argo is pleased to have advised VGP, a leading pan-European owner and developer of logistics and semi-industrial real estate, on its latest capital markets transaction.

The transaction involved the successful issuance of €600 million in senior unsecured green bonds, maturing in January 2032 and paying a 4% annual coupon. The bonds were issued under VGP’s Sustainable Finance Framework and will be used to finance and/or refinance a portfolio of eligible sustainable assets.

The deal attracted outstanding investor demand, with a final order book of €3.5 billion – representing a 7x oversubscription of the original €500 million target.

In parallel, VGP successfully completed a €100 million tender offer for part of its outstanding 2027 green bonds.

Argo acted as issuer’s counsel. The bonds will be listed on the EuroMTF market of the Luxembourg Stock Exchange.

We are proud to have supported VGP on this strategic issuance and liability management exercise.