Bankinter Investment coordinates the issue of Grenergy green bonds for 52.5 million euros on the Alternative Fixed-Income Market
Bankinter has also acted as placement agent and payment agent for the Green Bond issue placed by the renewable energy company on the Spanish Alternative Fixed-Income Market (MARF). Bankinter Investment has also advised Grenergy in obtaining a credit rating with Axesor Rating.
Bankinter Investment thus reinforces Bankinter's ESG position, as a facilitator of green financing for companies.
Bankinter has been the coordinating and placement entity, as well as payment agent in the second green bond programme launched by Grenergy on the Alternative Fixed-Income Market (MARF) for a volume of 52.5 million euros. This is a five-year senior unsecured debt issue with a fixed annual coupon of 4.0%. Additionally, Bankinter Investment has acted as advisor in Grenergy's credit rating application with Axesor Rating (EthiFinance Group): the issuer had its rating improved from “BB+” to “BBB-“ on the 15th of March.
This issue on the MARF has garnered great interest and been subscribed by nearly thirty investors with highly diversified profiles, including national and international institutional investors, as well as private banking entities and areas.
Any bonds issued will be considered green bonds, in accordance with the Green Bond Principles (GBP) published by the International Capital Market Association (ICMA) and the report (second-party opinion) issued by Sustainalytics.
With this issue, Bankinter Investment, Bankinter's investment banking subsidiary, takes a further step towards its objective of promoting and leading the thriving green financing that mid-cap companies are experiencing in the capital markets. In October 2019, Bankinter Investment was the sole coordinating and placement entity for the first Green Bond Programme placed on the MARF with Grenergy Renovables, and in September 2021, it placed the first Green Bond Programme on MARF, also with Grenergy Renovables.
In recent years, Bankinter Investment has led placements of bonds and promissory notes on MARF from Canadian Solar, Valfortec, Grenergy Renovables, Atlantica Sustainable Infrastructure, Ontime Logística, OK Mobility, Teknia, Premier España, Mota-Engil and Visabeira, among others.
Reinforced ESG criteria
With this issue, Bankinter Investment reinforces its role as facilitator of green financing for companies, one of the areas in which Bankinter works under its Sustainability strategy, with the aim that environmental, social and governance (ESG) criteria are integrated throughout the bank's value chain.