Linklaters advises on the first €500m green bonds issue of Ibercaja
Linklaters has advised Ibercaja on the issuance of its first 500 million euro green bond, aimed at financing mortgages and sustainable projects.
This is a €500 million senior preferred debt issue, which is part of the Green Bond Framework that Ibercaja published last week and through which projects in five different categories will be financed based on their contribution to the environmental objectives of the European Union and the Sustainable Development Goals of the United Nations.
The strong total demand received by more than 200 investors has reached a volume of more than 3.8 billion euros, which is more than seven times the amount of the issue. Among the investor base, the weight of a significant number of investors with a sustainable character stands out. The strength of demand has allowed Ibercaja Banco to narrow the price range of this issue, which can only be purchased by institutional investors, to a yield of 4.426%.
The underwriters of the issue were J.P. Morgan, Morgan Stanley, Natixis, BBVA and UBS.
The firms capital markets team was formed by: Jorge Alegre (partner), Federico Briano (partner), Alvaro Albors (managing associate), Cristina Yanguas (associate) and Ignacio Artero (intern).
