Bankinter organises MARF’s first green bond programme

The bank acts as the coordinating entity and sole placement agent for the 50 million-euro green bond programme listed by Grenergy Renovables in the Alternative Fixed-Income Market (MARF).

Bankinter’s investment banking area reaches new sustainable financing milestone with mid-cap companies.

Bankinter is pioneering new channels for ‘green’ financing. The bank’s investment banking area has acted as the global coordinating entity and sole placement agent for the first green bond programme in the Alternative Fixed-Income Market (MARF), run by BME. The issuer of these sustainable bonds is the energy company, Grenergy Renovables, S.A.

Bankinter is also acting as the agent for issues that are part of this green bond programme, currently one of its kind in the MARF. Grenergy’s registered consultant in this BME market is Norgestión, while its legal counsel was Evergreen Legal. Furthermore, Ramón y Cajal acted as Bankinter’s legal counsel. Grenergy was also assisted by EY and Mazars to review the financial figures found in the programme prospectus.

These bond programmes allow companies to diversify, and add value to, their sources of financing, as they meet ESG (environment, social and governance) standards of sustainability.

With this particular programme, Grenergy Renovables will be able to issue bonds with par values of 100,000 euros, fixed or variable coupons, and a maturity term of up to seven years, in additional to flexible structures. The specific details of issues will be determined with each tranche released over the next twelve months.

Any issues within this programme will be computable as sustainable financing, in accordance with the International Capital Market Association’s Green Bond Principles.

Grenergy Renovables has a corporate rating of BB+ (stable) from Axesor Rating. Furthermore, the programme has received a second-party opinion (SPO) about ESG standards from the analysis agency, Vigeo Eiris.

Bankinter remains firmly committed to sustainable sources of financing, which are part of its climate change strategy. It aims to enhance this new way to finance companies that meets strict sustainability standards.