EUROFIMA successfully issues dual-tranche Green Bonds
On Tuesday, 21 July 2020, EUROFIMA priced a new EUR 300mn 6-year fixed rate Green Bond and a EUR 250mn tap of its existing October 2034 Green Bond via Credit Agricole CIB, Deutsche Bank, J.P. Morgan and Nomura. This marks EUROFIMA’s fourth Green Bond transaction since its 2018 debut and is its second outing into the Green Bond public markets this year following a EUR 750mn 10-year Green Bond issued in May 2020.
Demand for the dual-tranche Green Bond was driven by high quality investors from across regions with strong support from ESG accounts. On the new 6 year Asset Managers bought 45%, central banks and official institutions 11%, and banks took 44% of the transaction. In terms of geographical distribution 99% went to Europe and 1% to Asia. On the 2034 tap Asset Managers bought 41%, Pension funds and insurance companies 38%, central banks and official institutions 10% and banks 11%. Geographical allocation shows strong participation of France 51%, Germany 33%, other Europe 12% and Asia 4%.