REITs are Seeing Plenty of “Green” in Bond Market

Green bonds tie into growing emphasis on corporate sustainability and ESG mandates.

Kimco Realty Corp. kicked off its debut green bond issuance earlier this summer with a bang. When its $300 issuance for 10-year bonds hit the market in July, it attracted more than 100 investors who quickly oversubscribed the issuance six-fold with orders totaling roughly $1.8 billion. The final issuance completed at $500 million with a competitive coupon rate of 2.7 percent, which at that time was 210 basis points over Treasuries

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