Ivy he placed his third green bonds for an amount equal to 500 million euro redeemable in 7 years. The title will pay a 2,50% coupon for a yield of 2,639%. Hera has a Baa2 rating with a stable outlook from Moody's and BBB+ with a stable outlook from S&P and the expected rating for the bond loan is in line with that of the group. The new green bond is represented by senior, non-convertible, unsecured notes, intended for circulation between qualified investors.
La demand was equal to 3,4 times the amount offered and, reads a note, “the operation saw a significant participation of international investors (in particular, Great Britain, France, Germany), mostly green and sustainable. The placement was coordinated by Bnp Paribas, Credit Agricole, Mediobanca and Unicredit as joint bookrunners, while BBVA, Intesa Sanpaolo and Banco Santander acted as bookrunners.
The funds raised through the bond issue will be used to finance or refinance numerous projects, already completed or planned in Industrial plan to 2025, selected on the basis of the provisions of the Green Financing Framework, which pursue one or more of the objectives of the UN 2030 Agenda, or Sustainable Development Goals (SDGs), divided into three areas. The first is that of the integrated water cycle, the second is that of the circular economy, prevention and control of pollution, the third is that of energy efficiency and infrastructure.
To ensure the correct and transparent allocation of funds, concludes the note, Hera has activated a monitoring and reporting process, which will also include the publication in the group's 2022 Sustainability Report of what is actually absorbed by each intervention, together with evidence of performance environmental achieved.
