Press release

CaixaBank issues €1.25 billion in its seventh green bond


• The issue, in Senior Non-Preferred format and valued at €1.25 billion, with an 8-year term and an early redemption option in the seventh year, exceeded €4.25 billion in demand.

• Thanks to the high demand, the initial interest rate was lowered by 35 basis points to a value of mid-swap +150 bp.

• This is the seventh green bond issued by CaixaBank, the funds of which will be used to finance renewable energy projects, energy-efficient buildings, clean public transport, water projects, and responsible consumption.

Today, CaixaBank concluded its second public bond issue of 2024, the first senior non-preferred green bond of the year. The bank has placed €1.25 billion over 8 years, with an early redemption option in the seventh year.

The price was set at 150 basis points (bp) over mid-swap, 35 bp below the 185 basis points offered in the announcement, thanks to the high demand, which exceeded €4.25 billion. Around 150 corporate investors purchased the issue.

The companies responsible for the placement were CaixaBank, Citi, Goldman Sachs Bank Europe SE, HSBC and Natixis.

CaixaBank's seventh green bond

Today's issue was CaixaBank's seventh green bond, the sixth such issue in euros. In 2022, the company issued two green bonds for 1 billion each, and in 2021, it did so on three occasions: two in euros and one in pounds sterling. CaixaBank issued its first green bond in November 2020.

CaixaBank reinforces its position as the leading issuer of ESG bonds, with a total of €11.25 billion and £500 million in current ESG issues in the market: Seven green bonds and five social bonds.

With this issuance, CaixaBank will channel funds to finance projects that contribute to environmental sustainability, such as the reduction of greenhouse gases, efficient water management, the prevention of pollution, and the adaptation to climate change. Specifically, and in keeping with its initial issue, it will allocate all the funds collected to promote Sustainable Development Goals (SDG) 6, 7, 9, 11 and 12. SDG number 6 "Clean water and sanitation" is aimed at guaranteeing access to water and its sustainable management. SDG number 7 aims to ensure access to "affordable and clean energy". SDG number 9 "industry, innovation and infrastructure" aims to build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation. SDG number 11, "sustainable cities and communities," aims to ensure that cities are more inclusive, safe, resilient, and sustainable. Lastly, SDG number 12, "responsible consumption and production," aims to empower sustainable production and consumption methods.

CaixaBank identified €10.1 billion of eligible assets on 30 June 2023, of which €6.7 billion are assets financing renewable energy projects; €2.4 billion are commercial and residential real estate assets with energy efficiency labels (EPC) A or B; €450 million are financing waterworks; €518 million are allocated for clean transportation; and €2 million to responsible consumer spending projects.

In August 2019, CaixaBank approved the bond issuance framework linked to the Sustainable Development Goals (SDG) with the validation of Sustainalytics, featuring the mission of supporting the United Nations SDGs. This issuance framework was updated in November 2022 to reflect CaixaBank's new sustainability commitments and developments, as well as to update the asset eligibility thresholds to the higher EU Green Taxonomy Standards.