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Fundraising - OCTOBER 22, 2021

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AXA IM Alts secures €500m for second green bond

by Kali Persall

AXA CoRE Europe, a European open-ended real estate fund managed by AXA IM Alts, has priced a second green bond with a €500 million ($582 million) issuance.

The green bond included a broad range of 167 European and international institutional investors. The notes mature in 2030 and have an issue price of 99.292 percent.

Launched in 2016, the green bond has an eight-and-a-half year maturity and is the first to be issued under a new €3 billion ($3.5 billion) medium-term note program, which AXA IM Alts created for AXA Core Europe to facilitate further issuances. AXA said most of the proceeds from the bond will be used to refinance existing secured debt, with the balance invested in assets from the fund’s acquisition pipeline.

“This second green-bond issuance on behalf of AXA CoRE Europe is a further endorsement of the quality of assets in the Fund’s portfolio, as well as a clear testament to both our strong track record in ESG investing and the continued d

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