CTP announces the signing of a JP¥ 30 billion unsecured syndicated sustainability-linked Samurai Loan

AMSTERDAM--(BUSINESS WIRE)--Regulatory News:

CTP, Europe’s largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), announces the successful signing of its debut Japanese term loan facility (the “Samurai Loan”) of JP¥ 30 billion (EUR 185 million equivalent).

The Samurai Loan is sustainability linked and has a 5-year maturity. It was signed at TONAR + 130bps, which after swapping results in a EUR fixed all-in cost of 4.12%.

In total 13 banks participated in the Samurai Loan, with SMBC Group acting as sole Coordinator, sole Sustainability Coordinator, sole Bookrunner, and Mandated Lead Arranger.

The Samurai Loan represents a significant milestone for CTP as it allows to gain access to the large pool of Japanese yen investors and to further diversify its funding sources.

Richard Wilkinson, Group CFO of CTP, said: “Diversification of funding is one of our main priorities. We transformed CTP from a purely EUR secured syndicated facilities financing structure in 2020, to largely unsecured financing structure through bonds, private placements and unsecured syndicated facilities. Adding the Japanese Yen market to this mix further improves our position, as the Japanese Yen market – which is the world 3^rd largest lending market after USD and EUR – is competitive at different times than the EUR market.”

With Samurai loan volumes rising to their highest level in over 15 years, non-Japanese companies are increasingly tapping into the Japanese currency, with some borrowers making their debuts in the Samurai loan market and others returning to raise larger amounts. SMBC continues to solidify its position as a leading arranging bank in the market. Leveraging its extensive global operations and unparalleled distribution capabilities in Japan, SMBC is uniquely equipped to assist non-Japanese borrowers in navigating the complexities of the Samurai market.

Daniel Johar, SMBC's Head of Origination and Co-Deputy Head of Loan Capital Markets in EMEA, said, "We are proud to commemorate the completion of this significant deal in support of CTP. Acting as the sole Coordinator and Bookrunner, SMBC reaffirms its top-tier status in helping borrowers to successfully secure funding in the Samurai loan market."

About CTP

CTP is Europe’s largest listed owner, developer, and manager of logistics and industrial real estate by gross lettable area, owning 13.3 million sqm of GLA across 10 countries as at 31 December 2024. CTP certifies all new buildings to BREEAM Very good or better and earned a negligible-risk ESG rating by Sustainalytics, underlining its commitment to being a sustainable business. For more information, visit CTP’s corporate website: www.ctp.eu