Berkeley Group Holdings PLC has revealed that it will issue 400 million pounds ($556.7 million) of unsecured green bonds in order to finance or refinance a portfolio of eligible assets.

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The house builder said the bonds mature in 10 years and have a 2.5% coupon a year. They are expected to be issued on August 11.

The proceeds will be used in the company’s development activities in line with its green bond framework, specifically those related to the development of green, energy efficient buildings on its large-scale, brownfield regeneration sites.

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