Grupo Pikolin, S.L. (“Grupo Pikolin” or “Pikolin”) has launched its second issue of sustainability-linked bonds for an amount of €10 million (the “Issue”) under the fixed income bond programme with a maximum nominal amount of €75 million registered with the MARF on December 3rd, 2020.
As the first issue, the bonds have been issued in accordance with the regulatory framework for sustainability-linked financing (the “Framework”) approved by Grupo Pikolin and reviewed and backed up by 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 is established in accordance with the 2020 Sustainability-Linked Bond Principles published by the International Capital Market Association (ICMA) and is published on Pikolin’s corporate website.
Being issued on February 22nd and disbursed on February 25th, the bonds will mature in 4 years, in February 2025. The funds raised in this Issue will be used to support the consolidation and growth of the Group. This Issue aims at supporting the achievement of a certain sustainability performance target, specifically, to reach a 27% of energy generated with green energies in PLAZA’s facilities by the end of 2023 (the year set as a reference for the calculation of the ratio).
Beka Finance, Sociedad de Valores, S.A., Bestinver, Sociedad de Valores, S.A. and PKF Attest Capital Markets, A.V., S.A. have acted as Placement Entities of the Issue, the final terms of which are duly published on the MARF website. Bondholders acts as Commissioner and Banco Sabadell has been appointed as Paying Agent, while J&A Garrigues, S.L.P. has acted as legal advisor for the transaction. PKF Attest Servicios Empresariales, S.L. is the Registered Advisor.
About Grupo Pikolin:
Grupo Pikolin S.L. is a multinational group based in Spain, operating in the rest sector since its foundation in 1948. The Group has a worldwide presence, covering 65 countries and offering a wide and balanced range of products under 13 different brands. In addition, it has a total of 10 production plants located on three continents: seven in Europe (three in Spain and four in France), one in Latin America (in Brazil) and two in Asia (in China and Vietnam). Spain and France are its main markets, where it has a market share of around 30%, positioning itself as the sector leader. Geographical diversification, together with the Group’s vertical integration, diversification of channels and products 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)