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Vía Célere Issues First Green Bond by Residential Developer in the Euro Market

Vía Célere Issues First Green Bond by Residential Developer in the Euro Market Background Image

Vinson & Elkins represented Värde Partners portfolio company, Vía Célere (the “Issuer”), in connection with its offering of €300 million aggregate principal amount of 5.25% Senior Secured Notes due 2026 (the “Notes”) and its €30 million super senior revolving credit facility.

The Notes were issued on March 18, 2021 and diversify the Issuer’s funding sources and supports its growth strategy in the Iberian market. The Issuer intends to use the proceeds from the offering, amongst other things, to fund cash on balance sheet and re-finance existing indebtedness, each in connection with the construction of energy efficient residential buildings in Vía Célere’s portfolio across Iberia.

Vía Célere is the largest homebuilder in Spain by units delivered in 2020, with a deep residential land bank in key markets across Iberia.

The V&E team was led by partners Federico Fruhbeck and Noel Hughes with assistance from partner Emilie Stewart, counsel Cason Moore, senior associate Matthew Lowe and associates Anu Akinbamidele and Chris Hesford. Partner Wendy Salinas, counsel Andrew Callaghan and associates Simrita Chadha and Liz Snyder provided tax advice.

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