Inaugural Green Bond 2023

The issue confirms CDP’s role as leading issuer of sustainable finance securities and further expands the ESG funding instruments offered to the market, following the eight issues already launched since 2017 in Social and Sustainability format.

The issue is in line with the Sustainable Development Goals promoted by the United Nations, with particular reference to SDGs 6, 7, 11, and 13 (respectively “Clean water and sanitation”, “Affordable and clean energy”, “Sustainable cities and communities”, and “Climate Action”).

To demonstrate the robustness of the portfolio of initiatives identified, a Second Party Opinion was released by ISS ESG.

The Green Bond is aimed at institutional investors, with a nominal amount of 500 million euros, fixed rate, unsubordinated, unsecured bond with an annual gross coupon of 3.875% and maturity of 6 years.

The transaction collected orders for over 2.6 billion euros, implying a 5 times oversubscription, with orders from more than 130 investors, of which about 80% foreign, and a relevant presence of ESG investors.

The initiative is part of the “CDP Green, Social and Sustainability Bond Framework" and is in line with the Sustainability Bond Guidelines published by the International Capital Market Association (ICMA).