Impact Investing Bond – TIMBERWORKS LOGISTICS CENTER
New in subscription
| Maturity in years | 2 |
| Fix coupon | CHF 5.25% | EUR 6.50% | USD 7.25% p.a. (quartalsweise) |
| Number of years Fixed coupon | 2 |
| Issuer | Calyx Securitisation S.A., Luxembourg (Compartment EMTN26-01) |
| Subscription period | until 13 March 2026 |
TIMBERWORKS LOGISTICS CENTER is a fully pre-let logistics development in the Groote Haar business park in Gorinchem (Greater Rotterdam, NL), with 79,463 m² GFA. The asset is 100% leased to DELI HOME on a triple-net basis (15 years firm plus 2×5-year options) with an indexed net rent of EUR 9.20m p.a. The building is developed sustainably and targeted for BREEAM “excellent” certification.
The note is a short-dated senior secured bond (24 months) with quarterly coupon payments and multi-currency tranches (CHF/EUR/USD). The collateral package includes a first-rank real estate lien in the amount of the issue volume and a pledge over rent receivables and—if a purchase price is paid before repayment—the purchase-price claim (each in the amount of the issue volume). Necron contributes EUR 43.1m equity (30.1% of total project costs of EUR 143.1m). The structure is implemented via an SPV compartment, limiting issuer risk.
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100% pre-let to DELI HOME (15-year firm term + 2×5-year options), triple-net, indexed net rent EUR 9.20m p.a.
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Strong collateral package: first-rank mortgage (issue volume) plus pledges over rent and purchase-price claims (issue volume).
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Attractive fixed coupons in CHF/EUR/USD; quarterly payments; short tenor with an early redemption option after 20 months.
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Sustainability: BREEAM “excellent” development & certification.
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Meaningful sponsor equity (30.1%) with a clear exit focus (sale to an institutional investor).
Product data
| Product | Impact Investing Bond – TIMBERWORKS LOGISTICS CENTER |
| Maturity in years | 2 |
| Fix coupon | CHF 5.25% | EUR 6.50% | USD 7.25% p.a. (quartalsweise) |
| Number of years Fixed coupon | 2 |
| Issuer | Calyx Securitisation S.A., Luxembourg (Compartment EMTN26-01) |
| Subscription period | until 13 March 2026 |
| ISIN | CH1527364488 (CHF) | CH1527364496 (EUR) | CH1527364520 (USD) |
| Valor | 152736448 (CHF) | 152736449 (EUR) | 152736452 (USD) |
| Legal structure | Senior secured note (bearer bond), secured by a first-rank mortgage. |
| Impact | BREEAM „excellent“ |
| Security | First-rank mortgage in the amount of the issue volume over the unencumbered land (including developments) and the building; pledge of rent receivables in the amount of the issue volume until transfer of the project; if the purchase price is paid prior to |
| Issue Size | 100’000’000 (CHF/EUR/USD) |
| Issue date | 16th march 2026 |
| Issue Price | 100% |
| Final maturity | 16th march 2028 |
| Early Redemption Option | from 16 November 2027 (10 days’ prior notice) |
| Early Redemption Price | 100% plus accrued interest |
| Denomination | CHF 1’000 | EUR 1’000 | USD 1’000 |
| Coupon Date | Quarterly |
| Offering for | Private placement (not for public distribution), qualified investors only |
| Paying Agent | Kaiser Partner Privatbank AG, Liechtenstein |
| Subscription OTC | Kaiser Partner Privatbank AG; bridport & cie sa |
| Secondary market | Price updates on Bloomberg/SIX Telekurs/Refinitiv; best-effort secondary market, typically 1.00% bid-offer spread. |
| Settlement | SIX SIS / Euroclear / Clearstream |
| Exchange | Stuttgart Stock Exchange |
| Governing Law | Zürich 1, Switzerland |