The newly issued €600 million 15-year bond was fully subscribed by the National Bank of Greece (“NBG”) and Piraeus Bank.
Since the initial acquisition of a 66% share in 2013, Invel increased its participation in Prodea by exercising its call option in 2019, becoming the largest ever investor in the Greek real estate market.
Over the last nine years, under Invel’s active steering, Prodea has increased its GAV from circa €900 million to circa €2.4 billion, whilst also returning in excess of €700 million to its shareholders.
The refinancing follows the successful launch by Prodea in July 2021, of the first ever green bond in Real Estate in Greece, with a 7 year maturity and a 2.3% fixed interest rate.
