June 2025
Financial Adviser
€ 300 million
Green Bond
Amvest
Financial Adviser
Van Lanschot Kempen acted as Financial Adviser to Amvest for the issuance of their second €300 million green bond
Transaction highlights
- Amvest Residential Core Fund (ARC Fund) successfully issued its second green bond of €300 million, following its inaugural green bond issuance in September 2024.
- With this second issuance, the ARC Fund further expands its investor base by welcoming new, high-quality investors. The green bond has a maturity of 6 years and a fixed-rate coupon of 3.750%, reflecting ARC Fund’s investment grade credit profile.
- The transaction was met with outstanding market reception, generating robust demand that resulted in a final orderbook of more than €2.2 billion, reflecting an oversubscription of more than 7.3 times at final terms. This strong demand reflects investors’ confidence in the ARC Fund’s credit profile and enabled the ARC Fund to secure attractive pricing.
- This transaction builds on the ARC Fund’s efforts to transition its funding structure from secured to unsecured funding, while also diversifying its funding sources through access to debt capital markets. Van Lanschot Kempen has supported Amvest with strategic advice on the planning, structuring and execution of this transition. Since July 2022, it has acted as Financial Adviser for:
- A €450 million sustainability linked unsecured revolving credit facility, July 2022
- A €135 million U.S. Private Placement, November 2023
- A €750 million extension of credit facilities, July 2024
- A Moody’s rating of Baa2 with a positive outlook, August 2024
- A €300 million inaugural green bond, September 2024
- A €300 million green bond, June 2025
Company description
- The Amvest Residential Core Fund, the largest investment fund managed by Amvest, is a non-listed Dutch residential real estate fund with a long track of investing in affordable, high-quality homes in the Netherlands. The Fund was established in 2012, Pensioenfonds Zorg en Welzijn (PfZW) and a.s.r. are the largest shareholders.
- The ARC Fund has an investment portfolio of €4.6 billion, which is characterized by its strong focus on affordable, high quality and sustainable residential properties. Due to its active portfolio management, the ARC Fund is well on track to meet the requirements of the Paris Proof roadmap.
Van Lanschot Kempen credentials
- Van Lanschot Kempen has advised on more than €100 billion in real estate transactions across 17 different countries in Europe in the last 10 years. Since 2020 to date, Van Lanschot Kempen advised on more than 190 transactions across different countries, representing a total deal value of over €35 billion in a challenging and unprecedented environment.
- Van Lanschot Kempen Debt Advisory has a strong track record in structuring and arranging debt facilities, totaling over €12 billion since 2017.