(Finance) – CDP returns to the capital market by launching a new Sustainability Bond intended for institutional investors for a total amount of 750 million of Euro. This is the eighth ESG issue placed starting from 2017, for a total of 5.5 billion.
To demonstrate the strong interest on the part of the financial markets for CDP’s sustainable bond issues, the transaction was registered orders for approximately 1.3 billion euros and has been welcomed for over 70 investors with a significant participation from abroad (68%) and a presence of ESG investors equal to approximately 70%.
The new Sustainability Bond unsecured and with a gross annual coupon of 3.50% and a maturity of 5 years.
THE proceeds of the new issue, which is part of CDP’s Green, Social and Sustainability Bond Framework, will be dedicated to green and social initiativesincluding energy efficiency and renewable energies, as well as water efficiency, social infrastructure and international cooperation.
The initiatives selected for the purpose of issuance, in accordance with the provisions of CDP’s 2022-2024 Strategic Plan, are aligned with the identified intervention priorities from the Sectoral Strategic Guidelines relating to Energy Transition, Social Infrastructures and the Protection and Safeguard of the Territory. The operation is also in line with the Sustainable Development Goals of the United Nations.
The Director of Administration, Finance and Control of CDP, Fabio Massolistated that the issue “strengthens CDP’s commitment to sustainable finance and contributes to gathering new national and international resources, mainly in favor of energy and water efficiency and renewable energies, to the benefit of the country system. The demand recorded by institutional investors, in light of the particularly complex context, was significant and represents an injection of confidence on the part of the market towards CDP and its role in supporting Italy’s sustainable development “.
The medium / long-term rating of the securities, for which an application for admission to trading on the Dublin Stock Exchange has been made, is expected to be BBB for S&P, BBB for Fitch and BBB + for Scope. BNP Paribas, Banca Akros – Banco BPM Group, Barclays, HSBC, Intesa Sanpaolo (IMI CIB Division), Santander, Societe Generale, UniCredit acted as Joint Lead Managers and Joint Bookrunners of the transaction.
(Photo: Greta Gabaglio / 123RF)