It is the first state-owned company to issue under this format
AIAF, the Corporate Debt Market of BME, has admitted to trading a green-bond issue by ADIF-Alta Velocidad, with a value of € 600 million.
The issue has a maturity of 6 years and will pay an interest of 0.8% per annum. The nominal amount per unit of the securities is €100,000 and the placement is aimed at institutional investors.
The placement syndicate is formed by BBVA, Banco Santander, BNP Paribas and Crédit Agricole. According to the company, 45% of the demand comes from investors specialising in this type of bonds.
Green bonds are debt securities issued to raise capital earmarked for the funding of projects that generate environmental or climate change-related benefits. The revenues obtained by this issue will be allocated to Eligible Green Projects (EGP) in two categories: new lines and extension of existing high-speed ones and maintenance, renewal and energy efficiency.
ADIF-Alta Velocidad thus becomes the first state-owned company to issue under the green bond format in Spain.
Julio Alcántara, Managing Director of BME Renta Fija, said that "the green bond segment is growing exponentially around the world as companies make progress in their social responsibility plans and in the achievement of the United Nations Sustainable Development Goals. Both in AIAF and MARF we are paying close attention to the development of this type of issues .We do not rule out the creation of an ad-hoc section for these bonds in both markets, when the volume admitted to trading reaches a certain critical mass”.