The Lamartine Fund held by CNP Assurances and CDC Habitat successfully issues 850 ME of green bonds

The Lamartine Residential Real Estate Fund, 85% owned since March 2022 by CNP Assurances and 15% by CDC Habitat, issued two green bonds for a total amount of €850 million. These operations were initiated by AMPERE Gestion, a subsidiary of CDC Habitat and fund manager.

By 2026, the fund will thus produce 3,950 new, free housing units at adapted or intermediate rents for a target size of the fund of more than 7,600 housing units and a value of 2.4 billion euros.

An operation that confirms the relevance of the strategy adopted…

On the strength of obtaining an A-/BBB+ (Fitch/S&P) rating on its debt, the Lamartine Fund issued two “Green and Sustainable” bonds (SPO Moody’s ESG Solutions) in April and July 2022 as part of the financing strategy defined with CNP Assurances and CDC Habitat, the two
Fund investors:
– On April 8, 2022, a first public bond issue of 500 ME at 10 years oversubscribed 2x, offering a coupon of 2.875%,
– On July 12, 2022, a second public bond issue of 350 ME at 6 years oversubscribed more than 2x, offering a coupon of 3.625%.

The success of these issues, with the presence of leading European investors and asset managers, confirms the strong interest of institutions for free and intermediate housing throughout France.

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