Sonae Sierra is the first real estate company in Portugal to issue bonds with sustainability criteria, thus taking «another step in its sustainability strategy».
The company announced this Tuesday that it has refinanced part of its corporate debt in the amount of 50 million euros through the issuance of bonds linked to sustainability (Sustainability-Linked Bonds), namely to CO2 emissions and recycling rates of the managed shopping centers. and owned by the company.
This operation was closed with Caixa Geral de Depósitos and Caixa – Banco de Investimento was the organizer and general coordinator.
In a statement, Sonae Sierra states that “it aims to continue linking its corporate debt to sustainability criteria”.
Luís Mota Duarte, Chief Financial Officer and Executive Director of Investment Management at Sonae Sierra, states that “this operation is part of the evolution of Sonae Sierra's sustainability strategy and is an achievement that results from the hard work of our teams. It is a way of reinforcing our commitment to carbon neutrality by 2040 and our alignment with a circular economy model, in line with international best practices».
Sustainability has been part of Sonae Sierra's corporate strategy for more than 20 years, and is part of all business axes. The company has been recognized by the GRESB Real Estate Assessment as a Green Star for 13 years.
In 2020 alone, the company implemented several energy, water and waste management measures in its assets, and avoided 15 million euros in operating costs. Compared to 2002, it reduced its electricity consumption by 66%, and increased the percentage of waste recycling by 223%. Since 2003, it has reduced water consumption by 32% and CO2 emissions by 84%.