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Insulation specialist Kingspan raised 850 million Euro from its first green public bond to support global growth and ongoing development, attracting bids of 4.5 billion Euro.
Insulation specialist Kingspan said it raised €850 million from its debut green public bond to help support global growth. The company said the proceeds would provide long-term capital to support the group’s on-going development.
The bond, which had a fixed average coupon of 4.1 per cent per annum with a mix of four and seven-year terms, attracted substantial demand, Kingspan said. The initial order book attracted bids of €4.5 billion, with the bond five times oversubscribed.
“This green bond provides significant firepower to fund Kingspan’s continued global growth,” said Geoff Doherty, Kingspan’s chief financial officer. “Substantial demand for the bond drove highly competitive pricing with an average credit spread of 82bps, including a reduction of 25bps versus the spread on our previous seven-year public bond in 2024.
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