Amsterdam’s Schiphol airport first in Europe to issue green bonds

02 Nov 2018

Simmons & Simmons has advised the Joint Bookrunners on a €500m issue of Green Bonds by Royal Schiphol Group N.V. (Schiphol). Schiphol is the first airport in Europe to sell green-labelled debt and will use the money to invest in the sustainability of its airports.

Schiphol’s stated ambition is to become the most sustainable airport in the world and to procure that all its terminals, offices and ground operations will become climate neutral.

The Green Bonds were placed with a broad range of institutional investors, including strong demand from investors managing ESG investment mandates. The final order book amounted to around €3bn. The Green Bonds will be listed on Euronext Amsterdam. BNP Paribas, ING and NatWest Markets acted as Joint Bookrunners on the transaction.

Schiphol’s Green Bond Framework was reviewed by research firm Vigeo Eiris and credit rating agency S&P Global Ratings, while the Green Bonds themselves will be certified by the Climate Bonds Initiative, a non-profit entity that promotes investment in low-carbon initiatives.

Commenting on the transaction, capital markets partner, Peter Voorhees says: “We are very pleased to advise on this debut issuance of Green Bonds by Royal Schiphol Group and to further contribute to their ambitions on sustainability”.

The Simmons & Simmons team was led by capital markets partners Peter Voorhees and Piers Summerfield and included managing associate Leon Yap, supervising associate Shari Taylor Molloy and associate Victoria So.

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