REN — Redes Energéticas Nacionais began contacts with investors for an eight-year green debt issue, with an expected value of 300 million euros, according to Bloomberg, which cites sources close to the operation.
A date for placement has not yet been set, which will depend on market conditions. The issuance will be carried out by REN Finance BV.
JP Morgan was named sole sustainability structuring agent and, under a joint bookrunnersBank of China, BBVA, BNP Paribas, CaixaBI, JP Morgan, Mediobanca and Millennium bcp participate, responsible for organizing meetings with potential subscribers.
The bonds aim to align with the European Green Bond (EuGB) taxonomy, launched at the end of 2023 to support the financing of the climate transition and the resource-efficient economy.
The operation follows the recent increase in REN’s long-term rating by Standard & Poor’s, from “BBB” to “BBB+”, with a stable outlook. The agency also maintained the short-term rating at “A‑2”, reflecting a financial profile considered solid in the immediate horizon.
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