Vía Célere refinances its corporate bond with a four-year green syndicated loan

Vía Célere, a real estate developer specialized in the development, investment, and management of residential real estate, has completed a refinancing of its 2026 green bond today through a green syndicated loan led by BBVA and Santander.  The redemption and cancelation of the bond are expected to be executed on the 12^th of August.

The green lending syndicate includes BBVA, Santander, Kutxabank, Bankinter, Unicaja, and Sabadell.  The loan has a term of three years, with a one-year extension, and confirms support for the company’s business plan by the country’s leading financial institutions.

Héctor Serrat, CEO of Vía Célere, stated: “We want to express our deepest gratitude to all the bondholders who supported us in 2021, and we are very pleased with the strong confidence shown by the syndicate members, motivated by the consistent strength of Vía Célere’s 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.”

Growth phase

Vía Célere delivered 985 units during the first half of 2024, of which 249 units came from its Build to Sell business and 736 from its Build to Rent model. These 985 deliveries more than doubled the 473 units delivered in the first half of 2023. Over the past 12 months, Vía Célere has delivered a total of 2,255 units.

Revenues for the first six months of 2024 reached €198 million, a 38% increase from €144 million in the same period of the previous year. Revenues for the past 12 months totaled €415 million.

Vía Célere currently has 5,074 units under development process, from design to delivery, with 3,591 units under construction, including both Build to Rent and Build to Sell. Additionally, the company has a confirmed order book of 2,988 units, amounting to 814 million euros, with deliveries scheduled mainly between 2024 and 2026.

Moreover, Vía Célere 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. This allows the developer to maintain its current level of activity without needing to acquire any new land in the coming years.