Linklaters and Clifford Chance advise on the issuance of €650m green senior preferred bonds by Grupo Cajamar

Linklaters and Clifford Chance have advised on the issuance of €650m green senior preferred bonds by Grupo Cajamar.

Grupo Cajamar has placed, through its Banco de Crédito Social Cooperativo, 650 million of a green senior preferred debt bond with a term of six years. This is the first issue of the Cajamar Group with the “green” seal for a senior preferred debt bond and the second of a sustainable nature.

In view of the good reception by the market, the coupon of the issue has been set at 7.50%. The maturity date is September 14, 2029. The order book has exceeded 1.5 billion euros.

The issue is intended to finance the growth of the commercial activity and to meet the objective of making at least one green or social issue per year. This is the third senior preferred bond issued by the Cajamar Group. In 2022 and 2021 it placed 1,000 million in this format in the market, the 2022 issue being its first sustainable debt issue with the social label.

Linklaters team was led by Jorge Alegre and Federico Briano, with support from Pablo Ruiz de Assín and Héctor Garrido Donamaría.

Julia Gil