The operation was closed on Wednesday and the amount obtained will be "a priority to the financing and/or refinancing of loans granted by the bank under the COVID-19 lines."
BCP will pay an interest rate above 2% on the issuance of sustainable debt, amounting to €500 million, according to a statement sent this Wednesday to the Portuguese Securities Market Commission (CMVM).
“The issue, in the amount of €500 million, will have a tenor of 6.5 years, with an option for early redemption by the Bank at the end of 5.5 years, an issue price of 99.527% and an interest rate of 1.75% per year for the first 5.5 years. From the 5th year and a half, the interest rate will result from the sum of the 3-month Euribor with a spread of 2.00%,” said the bank’s statement.
The operation was closed on Wednesday and the amount obtained will be “a priority to the financing and/or refinancing of loans granted by the bank under the Covid-19 lines, under the terms of the Bank’s Green, Social and Sustainability Bond Framework.”
This issue is also part of “the funding plan” defined by BCP “within the scope of its Strategic Plan 2021-2024, specifically aimed at meeting the MREL requirements (Minimum Requirements for Own Funds and Eligible Liabilities) and the strategy of strengthening its presence in capital markets and broadening its investor base.”