• CaixaBank has led the syndicated loan, acting as coordinator, agent bank, sole bookrunner and sustainability agent
• Aqualia will use the loan to finance and refinance green projects, such as water and waste treatment, renewable energy and sustainable transport, among other eligible projects
• This is the largest green syndicated loan in Spain this year.
Aqualia, one of the world's leading water management companies, has secured a €1.1 billion syndicated green corporate loan, with participation from ten banks. The syndicate was led by CaixaBank, who has acted as coordinator, agent bank, sole bookrunner and sustainability agent.
The loan will be used to finance and refinance eligible green projects as well as Aqualia’s core activities, such as water and waste treatment, water distribution and storage, renewable energy and sustainable transport, among others.
The loan is the largest green syndicated loan in Spain this year. The financing is linked to Aqualia's Green Financing Framework, which has been advised by CaixaBank, and had a Second Party Opinion from DNV, which has validated the eligibility of the projects that are aligned with Loan Market Association's Green Loan Principles.
Isidoro Marbán, Aqualia's CFO, commented: "This financing provides Aqualia with great stability in its long-term capital structure at a time when financial markets are highly volatile. It further recognises the strength of the business and its commitment to a sustainable economy and sustainable services".
Allen & Overy and Garrigues acted as legal advisors to the transaction.
Aqualia serves 45 million people in 17 countries with sustainability as a strategic principle in its management
Aqualia is the water management company owned by FCC (51%) and the ethical fund IFM Investors (49%). The company is the 4th largest water company in Europe by population served and the 9th largest in the world, according to the Global Water Intelligence ranking (March 2021). It serves 45 million users and promotes long-term projects in 17 countries: Algeria, Saudi Arabia, Colombia, Chile, Peru, Egypt, Arab Emirates, Spain, France, Italy, Mexico, Oman, Portugal, Qatar, Czech Republic, Romania and Georgia.
The company is a leading brand in the sector, deploying cutting-edge technologies, as well as being highly specialised, transparent and innovative. It is led by a committed and experienced team which constantly seeks to improve efficiency in production processes and optimisation of resources and has its end users as a key priority.
The commitment and responsibility to the municipalities in which Aqualia operates is not limited to the provision of the service but goes beyond that. It always seeks to contribute to improving the well-being of the people and, in particular, of the most vulnerable groups.
CaixaBank, a European benchmark in sustainability
CaixaBank's sustainability initiatives focus on promoting the energy transition of companies and society as a whole, including the development of solutions for individuals focusing on mobility and sustainable housing, and the promotion of investments with ESG criteria.
Within the framework of the new 2022-2024 Strategic Plan, CaixaBank aims to mobilise €64,000 million in sustainable financing, through the promotion of various initiatives focused on product offerings, ESG advice, awareness-raising and training.
CaixaBank is ranked 6th in Europe in green and sustainable loans by volume in the Top Tier leage tables, according to Refinitiv, where it is also the highest-ranked among Spanish banks.
CaixaBank is the leading financial group in Spain. With assets held totalling more than €689 billion, CaixaBank is Spain's largest bank and a major financial institution in Europe. Of note is its strong presence in Portugal, where it controls 100% of BPI. The group, chaired by José Ignacio Goirigolzarri and directed by Gonzalo Gortázar, has 20.4 million customers, the largest network of branches and ATMs in Spain and Portugal, and it is a leader in online banking, with a base of 11 million digital customers.