ICO's sustainable bonds
ICO plays an important role in the development of the sustainable bond market nationally and at the European level.
To date, it has made 8 sustainable bond issues of a value of 4,050 million euros.
2020: ICO becomes the first Spanish issuer to launch a public social bond issue designed to alleviate the economic impact of COVID-19.
- The funds collected will be used to finance operations of Spanish self-employed, SMEs and companies aimed at alleviating the economic and social impact of COVID-19, through the various instruments available to ICO: Second-floor facilities, direct financing programmes and the funds managed by AXIS, its venture capital subsidiary.
- The issue has had a demand of over 3,500 million euros, more than 7 times the transaction amount, which represents the largest over-subscription recorded in an ICO bond operation.
- 67% of the transaction has been placed among foreign investors and 64% among socially responsible investors.
2019: First issue of ICO's Green Bonds, of a value of 500 million euros. Success of the demand to reach 3,400 million euros, six times higher than the issue price.
- The funds were used to finance projects that contribute to protecting the environment and the fight against climate change.
- 84% of the issues were acquired by international investors, while 65% was distributed among investors with environmental and sustainable investment criteria.
- International recognition in the sustainable financing markets: the only Spanish entity and the only National European Promotional Bank that is a member of the ICMA's (International Capital Market Association) Advisory Council of the Green Bond Principles and Social Bond Principles Executive Committee.
2015-2020: Seven social bonds of an amount exceeding 3,550 million euros, which positions ICO among the leaders in this market at the European level.
- The funds will be used to finance the projects of the self-employed and SMEs located in autonomous communities with a GDP per capita lower than the Spanish average.
- The first five issues have funded over 46,400 projects.