Ibercaja Banco went to the markets this Tuesday to place a ‘green’ bond in what will be the first in its history. The entity based in Zaragoza will debut in this market with a debt volume of 500 million and a maturity of 4.5 years, as ‘Europa Press’ has learned after previewing it from ‘Bloomberg’. The bonus is eligible to count towards the minimum requirements for own funds and eligible liabilities (MREL).
The bond will be issued in denominations of 100,000 euros and cannot be redeemed early until 3.5 years have passed. The bond structuring advisor is BBVA, while the placement banks are BBVA, JPMorgan, Morgan Stanley, Natixis and UBS. The initial price at which the placement is being made is 210 basis points above the ‘mid-swap’. The placement is expected to close this Tuesday.
It follows in the wake of other companies such as Redeia, which through its subsidiary Red Eléctrica Financions, has launched the Euromarket Cataloged as an Amount of 500 Million ES, Which has been Followed by Telefónica with Placement of 1,750 Million within this Category. With this issue, Ibercaja speeds up the deadlines before beginning the ‘black-out’ period, in which companies do not go out to seek financing during the business results season.
Without knowing the business data corresponding to the year 2023, the entity recorded a net profit of 280 million euros during the first nine months of this year, which represents an increase of 68.6% compared to the same period in 2022. Your elders. profits for this cycle since 2015. Between January and September, Ibercaja’s recurring income grew by 31.3%, to 912 million euros, which has led the entity to increase its profit before provisions by 48% compared to the first nine months of last year, reaching 441 million euros.
