Gibson Dunn Advises Neinor Homes on its €325m Green Bond

Firm News  |  November 8, 2024

Gibson Dunn advised Neinor Homes, the leading listed residential property developer in Spain, on the issuance of its €325 million senior secured notes due 2030, which was oversubscribed four times.

Neinor Homes has issued its second Green Bond, upsizing the initial targeted amount from €300 million to €325 million, and has pledged that it will invest an amount equivalent to 100% of the proceeds in Eligible Green Projects.

Neinor Homes intends to allocate €175 million to repay its existing corporate debt facilities and increase its corporate debt by an additional €150 million to fund new growth opportunities and for general corporate purposes including land bank acquisitions, further co-investments and shareholder remuneration.

The Gibson Dunn capital markets team advising Neinor Homes was led by London partners Federico Fruhbeck and Hugo Hernández-Mancha, and of counsel Cason Moore. The finance team was led by Kavita Davis.

The firm acted alongside Uría Menendez, whose team was led by partner Gabriel Nuñez and associate Manuel Suero Roiz.