US real estate investor Hines has launched a €500 million green bond for its flagship European Core Fund, marking the vehicle’s debut in public debt markets.
The transaction, which received an order book exceeding €1.75bn, was approximately 3.6 times oversubscribed, reflecting strong investor confidence in the fund’s credit quality and sustainability strategy. The five-year senior unsecured notes are expected to receive an A- rating from Fitch Ratings.
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Alfonso Munk, global co-head of investment management at Hines, said the issuance provides scalable, tradable debt capital at a time when repricing across living, industrial, retail, and prime office sectors is creating disciplined deployment opportunities. He added that the move strengthens liquidity as European real estate markets begin to recover.
Simone Pozzato leads the Hines European Core Fund, which held gross assets of €3.78bn as of March 2026.
BNP Paribas, Crédit Agricole CIB, and ING acted as global coordinators and joint bookrunners, with ING serving as sole ESG structuring coordinator. Rothschild & Co advised on the offering.
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