The transaction has received great support from the international investment community, representing 77% of the orders received, with France being the most representative international jurisdiction with 17%, followed by the United Kingdom and Ireland with 16%, Italy with 14%, Germany /Austria with 14%, BeNelux with 9% and other EU countries with 7%. This issue has been classified with a rating of A-/Baa1/A-/BBB by S&P, Moody's, DBRS and Fitch respectively. This transaction is the first issue of the Spanish public sector and one of the first in Europe fully aligned with the green taxonomy of the European Union. In October, the Autonomous Community of Madrid issued its third green bond on the capital market and its second public issue in 2022, with a term of 7 years and a volume of 500 million euros, being mandated to participate in the BBVA issue in its role as green structuring bank, CaixaBank, Credit Agricole CIB, ING and Santander. The demand was highly diversified geographically, placing 73% outside of Spain, and the high quality of the orders meant that 53% was represented by SRI accounts. This issue has been rated Baa1 (st) / A- (st) / AL (st). With this new operation, the Community of Madrid consolidates itself even more in the sustainable bond market as it is the sixth issue of this type, with which it continues to advance in the construction of its sustainable curve and it has been the Spanish region that has reopened this market in 2022. The Community of Madrid has gone to the capital markets again in March 2022 to successfully place a new sustainable bond with a term of 10 years and for a volume of 1.000 million euros, being mandated for it BBVA, Banco Santander, Banco Sabadell, HSBC, Caixabank and Crédit Agricole. In the geographical distribution, it stands out that 83% of the bonds have been placed among foreign investors, Germany standing out with 29%, followed by France and Italy (10%) each and the United Kingdom, Portugal and Scandinavian countries with 8%.īy type of investor, the demand registered by banks stands out with 45% of the total volume of issuance, followed by insurers and pension funds with 25%, fund managers with 15% and official institutions with 13 %. This issuance has been rated A/Baa1/A(low) /(S&P/Moody's/DBRS). With this new operation, the Community of Madrid further consolidates itself in the sustainable bond market as it is the seventh issuance of this type, with which it continues to advance in the construction of its sustainable curve and has been the Spanish region with the common regime that has reopened this market in 2022. The Community of Madrid has gone back to the capital markets in February 2023 to successfully place a new sustainable bond with a term of 10 years and for a volume of 1.000 million euros, being mandated to do so by BBVA, Banco Santander, Banco Sabadell, HSBC, Caixabank CIB and Crédit Agricole.įor the development of this financial operation, it has relied on the Sustainable Financing Framework, which has been qualified by the Sustainalytics Agency as solid, reliable and in harmony with the Green Bond Principles (GBP), the Social Bond Principles (PBS ) and the 2018 Sustainability Bond Guidelines published by the International Capital Market Association (ICMA), together with the Green Loan Principles (BPL) administered by the Loan Market Association (LMA), and aligned with the Sustainable Development Goals set by the UN.
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