Bonds: a central financing instrument

CPI Europe uses bonds as part of its balanced approach to debt financing. The capital raised through our bonds is used for specific projects or to strengthen our portfolio.

Bonds 

CPI Europe had a robust balance sheet structure with an equity ratio of 47.1% as of 31 December 2025 (31 December 2024: 43.2%) and a solid net loan-to-value ratio (net LTV) of 42.6% (31 December 2024: 46.4%). The financial liabilities held by CPI Europe totalled EUR 4.0 billion as of 31 December 2025 (31 December 2024: EUR 4.3 billion). Cash and cash equivalents amounted to EUR 320.0 million (including cash and cash equivalents in assets held for sale). Net debt, i.e. debt after the deduction of cash and cash equivalents, declined to EUR 3.7 billion (31 December 2024: EUR 3.8 billion).