PRESS RELEASE

BME registers a new green bond issue by ADIF

  • With a value of 600 million euros
  • It is the third issue of this type launched by the company in BME

BME has admitted to trading a new green bond issue by ADIF-Alta Velocidad, with a value of €600 million. It is the third issue of this type launched by ADIF in BME’s Fixed Income market, following the issues it launched in June 2017 and April 2018.

The bond issue has a term of 8 years, with final amortisation in 2027 at par. The bonds’ individual value is 100,000 euros and will pay a coupon of 0.95% per annum.

BBVA, Banco Santander, HSBC Bank and Société Générale have acted as Global Coordinators and Placement Entities of the issue, wrapped up at 28 bp spread compared to Treasury Bills of similar maturity. Also noteworthy is the high interest brought about by the placement as the order-book was 3.3 times oversubscribed, led by international investors, which accounted for 67% of the total, and 60% subscribed by socially responsible investors.

ADIF has a rating of Baa2, stable outlook, by Moody's Investors Service and A-, stable, by Fitch.

The funds raised through this issue will be earmarked for the construction of new high-speed lines stretches. The issue is launched under the framework of ADIF's sustainability policies, which set out that the funds must be channeled towards eligible green projects, establish the amounts and investment objectives of said projects and the reporting obligations to investors. In addition, ADIF’s green bonds are compulsorily subject to a second opinion on their fulfillment of these criteria by CICERO (Center for International Climate Research).