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A&O Shearman advises Stoneweg European REIT on its successful EUR500 million debt restructuring

A&O Shearman advises Stoneweg European REIT on its successful EUR500 Million Debt Restructuring
Published Date
Feb 20 2025

A&O Shearman has advised Stoneweg European REIT (SERT), a diversified Pan-European Real Estate Investment Trust listed on the main board of the Singapore Exchange, on successfully raising and conducting a EUR500m debt restructure.

The debt restructure was achieved through (i) a new EUR340m bridge to bond debt facility and (ii) the issue of EUR500m 4.25% Green Bonds due 2031 under the EUR1.5 billion Medium Term note programme. The Green Bonds are dually listed on the Luxembourg Green Exchange platform of the Luxembourg Stock Exchange and the Singapore Exchange and are supported by a portfolio of EUR1.1bn of green-certified (BREEAM or LEED) assets.

The Green Bonds are Investment Grade rated “BBB –” by S&P Global Ratings and Fitch Ratings.

SERT CEO Simon Garing announced: “Demand from over 100 major institutional debt investors reached more than EUR2.4bn, representing oversubscription of nearly five times.” 

The international A&O Shearman team was led by partner Frank Mausen, counsel David Van Gaever, senior associate Alexis Poisson and associates Michalina Parzych and Enrico Dalle Mulle in Luxembourg and partners Aloysius Tan and Prakash Segaran, senior associate Jia Yan Low and associates Nick Yap and Kathleen Tay in Singapore.

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