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 11 sustainable bond issues of a value of 5,550 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.