The syndicated issuance comprised a (i) a €650,000,000 tranche with a 5-year maturity and a 3.500% fixed coupon and (ii) another €650,000,000 with a 10-year maturity and a 3.875% fixed coupon.

This issuance was 4 times oversubscribed and had an order book of more than €5,200,000,000 at its peak. The proceeds of the bonds will be used to finance or refinance Eligible Green Assets in line with the Group’s 2022 Green Financing Framework, coherent with the Group’s sustainability strategy and its Better Places roadmap to create positive environmental and social impacts.

The bonds were admitted to trading on Euronext Paris on 11 September 2024.

Clifford Chance advised Unibail-Rodamco-Westfield from an English and French law perspective, with a team that was composed of Cedric Burford, partner, Alexander Tollast, counsel, and Serena Polycarpou, trainee solicitor.