QIC Shopping Centre Fund defied volatile market conditions to exceed volume and pricing expectations in its first-ever green bond, which priced on 7 August. The issuer says the deal was the culmination of a significant process towards delivering sustainability outcomes and its result highlights the benefits of green, social and sustainability (GSS) bond issuance.
On 7 August, QIC Finance, the issuing entity of QIC Shopping Centre Fund (A- by S&P) launched a new, six-year domestic green-bond deal to come in either or both fixed- and floating-rate formats. Indicative price guidance for the forthcoming transaction is 140 basis points area over swap benchmarks, with pricing expected on the day of launch.
On 1 August, QIC Shopping Centre Fund (A- by S&P) mandated a 6-7 year, minimum A$150 million (US$102.7 million) green-bond deal via Commonwealth Bank of Australia and National Australia Bank (NAB). NAB is acting as green-bond arranger.