• The interest rate margin is linked to changes in Aena's ESG rating, as provided by MSCI.
• CaixaBank has led this syndicated loan, acting as coordinator, bookrunner and mandated lead arranger, as well as sustainability agent and payment agent.
• The facility will allow Aena to increase its available cash flow for its corporate requirements.
Aena, the Spanish airports operator, has signed a sustainable syndicated loan facility (ESG-linked RCF) of €650 million in a financing deal led by CaixaBank, which has acted as coordinator of the loan, global bookrunner and mandated lead arranger, as well as sustainability agent and payment agent. Deutsche Bank, Intesa Sanpaolo, BNP Paribas, Société Générale, Bankinter and Sabadell have also participated in the syndicate.
The facility will increase the company’s available cash flow for its corporate requirements.
The sustainable loan's interest rate margin has been linked to the changes in Aena's ESG (Environmental, Social and Governance) rating provided by sustainability agency MSCI. An improvement in its ESG rating could allow Aena to obtain an improved interest rate margin.
This is the second sustainable syndicated loan entered into by Aena and one of the most significant in Spain this year.
CaixaBank, a European benchmark in sustainability
As part of its new 2022-2024 Strategic Plan, CaixaBank has set itself the strategic priority of becoming a European benchmark in sustainability. To succeed in this aim, the financial institution is seeking to mobilise €64 billion in sustainable financing to drive the transition among companies and the society.
CaixaBank was the leading bank in sustainable financing in Europe in the first half of the year, according to the Refinitiv ranking, which sees CaixaBank in the top position of the EMEA Top Tier Green & ESG-Linked Loans ranking. CaixaBank also claimed the first place in green financing in Europe in the first half of 2022, according to Bloomberg’s Green Use of Proceeds – Top Tier Lender league table.