Back 16/12/2020 news

Greenalia issues a 55 million euro green bond in Spain (marf) to boost its investment plan

  • The decision was reported to the market and it is enhanced by the share repurchase plan by the Company’s CEO, Manuel García, to reach 85% of outstanding shares
  • The company has increased its project portfolio in the past few months, with a special focus on floating offshore wind

Greenalia has just successfully completed a 55 Million Euro senior green bond emission in the MARF (Alternative Fixed Bond Market). The individual nominal amount for each bond has been 100.000 Euros, with a 5-year maturity and a 4,95% coupon. The bond has been focused exclusively on institutional investors.

This issuance has been fully subscribed and paid with the support of institutional investors and the two main shareholders of the Company (Manuel García and Jose María Castellano), and the funds will be used to debt repayment of the three existing green bonds (listed at the MTF Luxembourg) and other debt, apart from enabling the development of the Company’s renewable energy projects pipeline. As in previous occasions the bond will be qualified as green by Standard&Poor’s.

In the mentioned transaction, Solventis AV. has acted as Global Coordinator and bookrunner, Banco Sabadell as a bank agent and Garrigues as the legal advisor.
As a relevant fact also being disclosed, the Company’s main shareholder, Manuel García (through Smarttia Spain S.L.) in addition to participating in the green bond issuance, will also launch a share repurchase plan with the intention of increasing its stake in the company from 84.11% to 85%.
Access the public disclosure click here.
Access the issuance document click here.

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