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Second Green Bond of 500 million Euro for another 12 environmental sustainability projects


On 12 September 2018, Iren concluded the issue of its second Green Bond to great success (Fitch BBB rating) with a duration of 7 years for the total amount of 500 million Euro. This transaction strengthens Iren’s presence in the green segment, the first local utility to have issued two Green Bonds for a total of 1 billion Euro, (the first for 500 million Euro in October 2017) which represent about 40% of the Group’s bond portfolio. The transaction recorded an extremely positive response from investors with subscriptions about 4.5 times higher than the offer and with a high quality and wide geographical diversification of the Socially Responsible Investors (SRI), allowing the Group to further diversify its investor base. The success of the transaction testifies to investors’ strong appreciation for the credit and the Sustainable Financing framework of Iren: green investors have been estimated at about 51% of the amount allocated, a sharp increase compared to the previous issue of 2017, in which they were estimated at about 25%. The Green Bond, issued in 2018, was allocated to the refinancing of 16 projects within five categories: energy efficiency, renewable sources, efficiency raising in waste management and recycling and wastewater treatment and e-mobility.

For more information on the Iren Green Bond, click here

Distribution of funding by category (%)