This issue has been classified with a rating of A-/Baa1/A-/BBB by S&P, Moody's, DBRS and Fitch respectively. This transaction is the first issue of the Spanish public sector and one of the first in Europe fully aligned with the green taxonomy of the European Union. In October, the Autonomous Community of Madrid issued its third green bond on the capital market and its second public issue in 2022, with a term of 7 years and a volume of 500 million euros, being mandated to participate in the BBVA issue in its role as green structuring bank, CaixaBank, Credit Agricole CIB, ING and Santander. The demand was highly diversified geographically, placing 73% outside of Spain, and the high quality of the orders meant that 53% was represented by SRI accounts. This issue has been rated Baa1 (st) / A- (st) / AL (st). With this new operation, the Community of Madrid consolidates itself even more in the sustainable bond market as it is the sixth issue of this type, with which it continues to advance in the construction of its sustainable curve and it has been the Spanish region that has reopened this market in 2022. The Community of Madrid has gone to the capital markets again in March 2022 to successfully place a new sustainable bond with a term of 10 years and for a volume of 1.000 million euros, being mandated for it BBVA, Banco Santander, Banco Sabadell, HSBC, Caixabank and Crédit Agricole. The book has had a high quality that can also be seen reflected in the awarding of the bonds by type of investor, with public and private banks being the investors with the highest allocation with 38%, followed by fund managers with 25%, insurers and pension funds with 16% and central banks and official institutions with 14%. International demand has represented 57% of the orders received, with the Nordic countries being the most representative international jurisdiction with 13%, followed by Germany (10%), England and Ireland with 7% and Portugal with 7%. The transaction has had strong investor interest with a final book of around two billion euros from 78 different investors. This issuance has been rated A/Baa1/A (all Stable) by S&P, Moody's, DBRS. This transaction demonstrates the great commitment of the Community of Madrid with the green bond market and with the alignment with the green taxonomy of the European Union. The Autonomous Community of Madrid has issued its fourth green bond in the capital market in June and its second public issue of 2023, with a term of 5 years and a volume of 600 million euros, being mandated to participate in the issue BBVA, CaixaBank, Credit Agricole CIB, ING and Santander. In the geographical distribution, it stands out that 83% of the bonds have been placed among foreign investors, Germany standing out with 29%, followed by France and Italy (10%) each and the United Kingdom, Portugal and Scandinavian countries with 8%.īy type of investor, the demand registered by banks stands out with 45% of the total volume of issuance, followed by insurers and pension funds with 25%, fund managers with 15% and official institutions with 13 %. This issuance has been rated A/Baa1/A(low) /(S&P/Moody's/DBRS). With this new operation, the Community of Madrid further consolidates itself in the sustainable bond market as it is the seventh issuance of this type, with which it continues to advance in the construction of its sustainable curve and has been the Spanish region with the common regime that has reopened this market in 2022. The Community of Madrid has gone back to the capital markets in February 2023 to successfully place a new sustainable bond with a term of 10 years and for a volume of 1.000 million euros, being mandated to do so by BBVA, Banco Santander, Banco Sabadell, HSBC, Caixabank CIB and Crédit Agricole.įor the development of this financial operation, it has relied on the Sustainable Financing Framework, which has been qualified by the Sustainalytics Agency as solid, reliable and in harmony with the Green Bond Principles (GBP), the Social Bond Principles (PBS ) and the 2018 Sustainability Bond Guidelines published by the International Capital Market Association (ICMA), together with the Green Loan Principles (BPL) administered by the Loan Market Association (LMA), and aligned with the Sustainable Development Goals set by the UN.
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