CaixaBank places a new €1,000 million senior preferred green bond, achieving its largest-ever order book for an ESG-labelled issue

• The transaction attracted peak demand of more than €4.5 billion, representing an oversubscription of more than 4.5 times.
• Strong investor demand enabled CaixaBank to price the transaction at mid-swap +70 basis points, 30 basis points inside the initial price thoughts and very close to estimated fair value.

CaixaBank has closed its first ESG-labelled issuance of 2026 with the placement of a €1,000 million five-year senior preferred green bond, which was very well received by investors. Demand has exceeded 4,500 million euros at its peak, exceeding the final issue size by more than 4.5 times. This represents the largest order book in CaixaBank's history for a euro-denominated senior preferred green bond.

Despite the geopolitical backdrop, CaixaBank benefited from a particularly favourable window in credit and interest rates markets, which improved significantly following the U.S. midterm elections. As a result, the transaction attracted strong demand from institutional investors..

The strength of the order book enabled CaixaBank to price the transaction at 70 basis points over mid-swaps, 30 basis points inside the initial price thoughts of the MS+100 bps area.. By setting the spread at MS+70 bps, CaixaBank

priced the transaction very close to the bond’s estimated fair value, making it one of the few recent transactions to price without a material new issue premium. The coupon has been set at 3.875%.

The transaction demonstrates investors' recognition of the significant improvement in CaixaBank's credit profile in recent years. This is the bank's first senior green preferred green bond issued with A2/A+/A+ ratings (Moody's/S&P/Fitch), following a series of rating upgrades  since 2022 and further consolidating CaixaBank's position among Europe’s highest-rated financial institutions.

The issuance contributes to completion of CaixaBank's 2026 funding plan, while allowing the bank to manage upcoming maturities further diversify its investor base. The transaction is underpinned by the bank's solid position as a leading banking and insurance group in Spain, as well as by its sustainability strategy. The proceeds will be allocated to eligible green projects, backed by a portfolio of assets aligned with climate change mitigation objectives and, in part, with the criteria set forth under the European Taxonomy.

The joint lead managers for the transaction were BNP Paribas, CaixaBank, Goldman Sachs Bank Europe SE, HSBC, Mediobanca and Natixis.

Financing projects with a positive environmental impact

Through this new green bond issuance, CaixaBank will allocate the proceeds to eligible projects included in its green portfolio, in accordance with the bank's Sustainable Funding Framework, which is aligned with ICMA's Green Bond Principles.

CaixaBank's eligible green portfolio reached €17,900 million at the end of 2025, 33% more than the previous year. The portfolio is mainly concentrated on projects related to renewable energy and energy efficiency, green buildings and clean transport.

The new transaction gives continuity to CaixaBank's strategy in the sustainable funding markets. The previous euro-denominated green-issuance took place in June 2025, when the bank issued a ten-year Senior Preferred Green bond for €1,000 million.

CaixaBank’s activity in sustainable capital markets is complemented by its 2025-2027 Sustainability Plan, which forms part of the bank’s Strategic Plan and includes a target to mobilise more than €100 billion in sustainable finance. Since the launch of the plan and through June 2026, the bank had mobilised €81.096 billion, representing more than 81% of the target for the entire period.