Spanish residential real estate developer V铆a C茅lere has successfully refinanced its 2026 green bond with a new four-year green syndicated loan.
The loan, which has a three-year term with a one-year extension option, will fully replace the existing bond upon its maturity on 12 August.
A consortium of leading Spanish banks, including BBVA, Santander, Kutxabank, Bankinter, Unicaja, and Sabadell, participated in the loan.
H茅ctor Serrat, CEO of V铆a C茅lere, said: 鈥榃e are very pleased with the strong confidence shown by the syndicate members, motivated by the consistent strength of V铆a C茅lere鈥檚 financial results and strong balance sheet. Our focus for the coming years remains on executing our strategic plan and developing our large land portfolio, one of the largest and best positioned in the market with over 13,500 homes, while also exploring other opportunities that may arise at this interesting time in the Spanish residential market鈥�
V铆a C茅lere delivered 985 units in the first half of 2024, more than double the 473 units delivered in the same period last year. This growth was driven by both its Build to Sell and Build to Rent divisions, which contributed 249 and 736 units, respectively. Over the past twelve months, V铆a C茅lere has delivered a total of 2,255 units.
The company maintains a robust development pipeline with 5,074 units currently in progress, including 3,591 units under construction. Additionally, V铆a C茅lere boasts a confirmed order book valued at 鈧�814 mln, encompassing 2,988 units scheduled for delivery primarily between 2024 and 2026.
V铆a C茅lere also holds one of the largest land portfolios in Spain, with 80% of the land classified as suitable for development purposes, primarily located in high-demand urban areas.
