Caixa Geral de Depósitos proceeds with new green bond issuance

  • ECO News
  • 7 June 2022

CGD, Commerzbank (B&D), Crédit Suisse, JP Morgan and Sociéte Generale are the bookrunners. The new bonds will be admitted to trading in Luxembourg.

The bank, led by Paulo Marcelo, announced Tuesday that it has proceeded with a new green bond issuance.

According to a report provided by Bloomberg, Caixa Geral de Depósitos (CGD) intends to place four-year bonds with institutional investors.

Although no information was provided about the amount intended, the agency is aware that the emission of senior preferred green bonds maturing on June 15, 2026 is underway. The amount raised is expected to be used by the bank to finance or refinance eligible green projects.

According to Bloomberg, the initial guidance suggests a premium of 140 basis points over the euro mid-swap rate for the same maturity, which trades at 1.64%. However, the final interest rate will only be fixed at the end of the operation and depending on demand.

CGD, Commerzbank (B&D), Crédit Suisse, JP Morgan and Sociéte Generale are the bookrunners. The new bonds will be admitted to trading in Luxembourg.