KPMG Abogados advises on Greening Group 2022’s first incorporation of a green notes program on MARF

KPMG Abogados has advised Greening Group 2022 on its first incorporation of a green notes program in the Mercado Alternativo de Renta Fija (MARF), for a nominal value of 20 million euros.

Greening Group 2022, which was listed on the BME Growth in April of this year, is the first Andalusian renewable energy company to ever be listed in history and is engaged in the development, design, construction and promotion of photovoltaic solar energy generation projects, with a vertically integrated business model and international activity, especially in Europe and North America.

The company has designed the notes to be issued under its program to qualify as a “green securities” in accordance with the Greening Group’s “Green Financing Framework 2023”, under which the company may issue bonds and notes in accordance with the Green Bond Principles and enter into financing contracts in accordance with the Green Loan Principles; thus, sending a strong message regarding its commitment to act on environmental issues, both internally and externally, by financing projects with clear environmental benefits.

The transaction involved KPMG Abogados, as legal advisor, with a team formed by Maitane de la Peña (director), Giuseppe Maria Bertuglia (associate) and María Rubio (junior); Beka Finance as listing sponsor, paying agent and underwriter; and Miralta Finance Bank as underwriter and lead arranger.