Valfortec has issued its first senior green bond in MARF (Mercado Alternativo de Renta Fija) for an amount of 25 million euros. The bond is due on March 2026 and has an annual coupon of 4,5%. The operation aroused interest among investors and even if the amount was fixed at 20 million euros, at the end it was increased 25%.
The issuance is in accordance with the Green Bond Principles, as published by ICMA’s Green Bond Principles. Valfortec will use the funds to finance the installation of 250 megawatts.
Axesor Risk Management has granted the Company a BBB- long-term rating with stable tendency.
The Global Coordinators and Bookrunners are JP Morgan and Deutsche Bank. Credit Suisse, Santander, Caixabank, BBVA and Sabadell act as Passive Bookrunners. PKF Attest acts as the Listing Agent of the bond and Garrigues and Vinson & Elkins were the Legal Advisers.
Mirabaud Securities participates as Global Coordinator and Bookrunner, while Bankinter acts as Lead-Manager. PKF Attest acts as the Listing Agent of the bond and Ashurst was the Legal Adviser.
It is not the first time the company operates in the Capital Markets. Last year 2020, Valfortec issued a Project Bond on the Frankfurt Stock Exchange for an amount of 51,8 million euros.
Valfortec is an Independent Power Producer, located in Castellón (Spain) specialized in the design, construction, and sale to thirds of renewable energy assets, in particular photovoltaic projects. The company operates in Spain, Japan, Chile and the United Kingdom, countries where it has developed solar projects of approximately 75 megawatts.
Source: BMERF (Read the entire post here). Only in Spanish.