Bankinter Investment coordinates the first promissory note programme with a green financing framework for a Spanish company, for an amount of 100 million euros
Bankinter Investment, Bankinter's investment banking area, acts as lead arranger, dealer and agent bank for this significant programme registered on the alternative fixed income market (MARF) by the listed company Grenergy Renovables.
The bank already coordinated the first green bond programme registered on MARF two years ago, also with Grenergy Renovables.
This operation is one of many demonstrating Bankinter's commitment to sustainability, which is one of the bank's strategic priorities.
Bankinter has achieved a milestone in green emissions as part of the Bank's global sustainability strategy. The bank has coordinated and acts as dealer and paying agent in the first issuance of green promissory notes registered by a Spanish company. It is a promissory note program with Grenergy Renovables, a producer of renewable energy and specialist in development, construction and management of photovoltaic and wind power projects.
The maximum outstanding balance of the issuance is 100 million euros. The program is the first registered in Spain - and one of the first internationally - to use a financing framework aligned with the 2021 Green Bond Principles of the International Capital Market Association (ICMA) and the 2021 Green Loan Principles of the Loan Market Association, according to Grenergy.
With its participation in the issue, Bankinter is helping Grenergy to optimise the company's financial structure and its positioning in the fixed-income markets. The agency Sustainalytics has assessed the alignment of this sustainable financing with international standards.
The bank was also the coordinator and placement entity of the first green bond programme registered on MARF in October 2019, which was also issued by the company Grenergy, for a maximum amount of 50 million euros.
Bankinter seeks to promote green emissions as part of its global sustainability strategy, which is one of its strategic priorities. The bank itself issued 750 million euros of green bonds in January 2020 and remains firmly committed to advancing in new operations, services and products with ESG (environmental, social and governance) criteria.
Bankinter has been recognised as one of the world's most sustainable banks, having been included for the third consecutive year in 2020 in the Dow Jones Sustainability Index, which lists the companies with the best environmental and social performance and good governance.