Green Bond of 500 million Euro
for 18 environmental sustainability projects
In 2017, Iren concluded the issue of its first Green Bond to great success (Fitch BBB rating) with a duration of 10 years for the total amount of 500 million Euro. The transaction recorded an extremely positive response with total demand of around 2.2 billion Euro (4 times the offer amount) and with the participation of Socially Responsible Investors (SRI).
The Green Bonds, which expire on 24 October 2027, pay a gross annual coupon of 1.50%. The bonds were listed on the regulated market of the Irish Stock Exchange and on the ExtraMOT market of the Italian Stock Exchange in the recently established Green Bonds segment.
The Green Bond was allocated to the refinancing of 18 projects within four categories: energy efficiency, renewable sources, efficiency raising in waste management and recycling and wastewater treatment. The projects financed by the Green Bond were selected by Iren for their compliance with exact environmental criteria, which were ensured by an external body.
For more information on the Iren Green Bond, click here.
Distribution of funding by project category as at 31/12/2017 (%)