CaixaBI’s ESG commitment was front and centre in Portugal over the past year, with the ‘Best for ESG’ award winner spearheading 10 new ESG debt issues in 2023, including six green and four sustainability-linked bonds,.
One of the key deals was electricity utilities company EDP’s €1.35 billion green senior unsecured dual-tranche Eurobond issued in September 2023. The transaction, aimed at financing EDP’s portfolio of renewable energy projects, was oversubscribed by 2.5 times, and marked the borrower’s largest ever Eurobond.
CaixaBI also facilitated the inaugural €20 million green bond for Electricidade dos Açores, with the proceeds earmarked for projects contributing to a low-carbon economy, and supported two ESG-linked bonds for the Sonae Group companies, worth a total of €170 million. These bonds were indexed to key performance indicators related to gender diversity in leadership and the reduction of carbon dioxide emissions.
Additionally, CaixaBI worked on telecommunications group NOS’s €100 million sustainability-linked financing, comprising a €75 million bond and a €25 million commercial paper programme. The funds were tied to NOS’s objective to reduce its greenhouse gas emissions.
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