Axa’s European logistics fund issues €800m green bond

[Image: Guzman Barquin/Unsplash.]

Axa IM Alts’ flagship European logistics fund, Axa Logistics Europe Master raised an €800 million green bond. The bond, is the fund’s first and was around four times oversubscribed attracting orders of €3.2 billion.

The bonds were placed with 136 European and international institutional investors and have been assigned an A-rating by Fitch, Axa said.

There are two tranches, including €500 million with a five-year maturity, and €300 million with an eight-year maturity.

The Green Bond was issued under Axa Logistics Europe’s Green Finance Framework, which has been approved by Sustainalytics, an independent ESG and corporate governance research, ratings and analytics firm, which confirmed its alignment with the ICMA Green Bond Principles.

The fund has a stake in the €4.2 billion European logistics platform managed by Axa IM Alts’ real assets team.

Axa Logistics Europe was launched in 2019 and has a portfolio of around 130 assets across 11 European countries comprising 3.9 million sq m of primarily big box or last mile/urban logistics space.