Spuerkeess launches first green bond, raising €500m for environmental projects
The financing for green projects was issued under state-owned bank’s newly launched Green Bond Framework
State-owned bank Spuerkeess has issued its inaugural senior preferred green bond, raising €500 million to fund environmentally sustainable projects, the bank announced on Thursday.
The green bond was issued under Spuerkeess’ newly launched Green Bond Framework and will be listed on the Luxenbourg Stock Exchange and displayed on the Luxembourg Green Exchange (LGX).
The bank said that the issuance got strong interest from a “diverse investor base” with the “final order book closing over EUR 1.8 billion, representing an oversubscription of 3.6 times the issuance size”.
“This strong demand highlights both the institution’s credit strength and the confidence investors place in Spuerkeess’ sustainability strategy and transparent approach to green financing,” the bank said in a press release.
Proceeds from the issuance will be utilised towards “green projects aligned with Spuerkeess’ Green Bond Framework, designed in accordance with ICMA Green Bond Principles.”
According to Spuerkees’ green bond framework, which was launched in February this year, the proceeds raised through bonds can be used to finance or refinance existing or new projects in Luxembourg that meet certain specified energy efficiency criteria.
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