Grupopikolin S.L. has issued its first sustainability-linked bond for an amount of €18 million, under the €75 million fixed-income bond programme registered in the MARF on December 3rd.
The bond has been issued in accordance with the Sustainability-Linked Financing Framework (the “Framework”) approved by Grupopikolin, which has been reviewed and backed with a “Second Party Opinion” from Vigeo Eiris, Moody’s independent provider of valuation, research, and opinion services on environmental, social and governance (ESG) issues for investors and organisations. The Framework has been established in accordance with the 2020 Principles for Sustainability-linked Bonds published by the International Capital Market Association (ICMA) and is published on Pikolin’s corporate website.
The issue date of the bonds was December 4th, while the disbursement took place on December 14th, with a maturity of 6 years. The funds obtained through this first bond issuance will be used to finance the consolidation and growth of the Group. With this issuance, the Group will be encouraged to achieve a certain sustainability performance objective, which would be to reach an energy percentage generated with renewable energies of 30% by the end of 2025.
PKF Attest Capital Markets AV acts as Global Coordinator and Placement Entity of the program and of this first bond, while Bondholders is the Commissioner and Banco Sabadell has been appointed to perform the task of Paying Agent. The legal advisor of the operation was J&A Garrigues, S.L.P. PKF Attest Servicios Empresariales, S.L. is the Registered Advisor. The final conditions of the first bond issue are duly published on the MARF website.
Grupopikolin S.L. is a multinational group headquartered in Spain, which has been operating in the leisure sector since it was founded in 1948. The Group has a worldwide presence, covering 65 countries and offering a wide and balanced range of products from 13 different brands. In addition, its production plants amount to a total of 10, located in three continents: seven in Europe (three in Spain and four in France), one in Latin America (Brazil) and two in Asia (China and Vietnam). Spain and France are its main markets, where it has a market share of around 30%, positioning the company as the leader in the sector. Geographical diversification, together with the Group’s vertical integration, channel and product diversification and commitment to sustainability and R&D processes, make Pikolin a solid and resilient business model.
Source: MARF (Read the entire post here – Only in Spanish)