Instituto de Crédito Oficial, already well established in the social bond market, is planning to broaden its socially responsible investment offering with its first ever green bond next year.
“In 2019, we may consider issuing a green bond,” said Rodrigo Robledo, head of capital markets at Ico. “We remain committed to the SRI market and we will also continue to issue social bonds.”
Ico sold its fifth social bond on Monday. The €500m October 2023 was priced at 10bp over the 4.4% October 2023 Bono. That deal is likely to be Ico’s final benchmark of the year. The lead managers were Crédit Agricole, HSBC, JP Morgan and Santander.
“We are unlikely to issue another public deal before the end of the year,” said Robledo. “We will close out the year with short dated private placements in dollars.”
Ico will have a funding programme of around €5bn in 2019, added Robledo.
An investor presentation on Ico’s website says it plans to “contribute to investment in infrastructure and climate change,” as part of its 2018-21 strategic plan.
Source Global Capital