First in Europe: University bond listed on Euronext Brussels
Alternext in Brussels today welcomed the listing of a series of bonds issued by the Vrije Universiteit Brussel (VUB), the Dutch-speaking university of Brussels. The bonds will be listed under the Euronext Private Placement Bonds programme (EPPB), an initiative giving issuers of private placement bonds simplified access to Euronext markets.
To celebrate the new listing, Prof. Dr. Paul De Knop, Rector of Vrije Universiteit Brussel, rang the bell to open trading.
The VUB bonds have been subscribed for a combined amount of € 61.5 million. The university’s series of amortising bonds comprises Fixed Rate Notes with a maturity of 15 years for an amount of €13 million and a coupon of 1,4%, Fixed Rate Notes with a maturity of 20 years for an amount of €20.5 million and a coupon of 1.653% and Floating Rate Notes (6 months) with a maturity of 20 years for an amount of € 28 million. The operation was led by Belfius.
The proceeds of the operation will be used to fund a large real estate project, which includes student apartments, state of the art academic facilities and a new cultural centre.