Social Bond issued in a dual-tranche format and aimed at supporting enterprises and territory harshly hit by the Coronavirus emergency
The issuance intended primarily to reach Socially Responsible Investors and proposed to the market in a 3-year and 7-year dual - tranche format, was subscribed by over 130 institutional investors.
This transaction is a new initiative put in place by CDP as part of its extraordinary measures plan in support of the businesses and local authorities. Indeed, funds raised will be used to finance initiatives providing immediate short-term relief in the context of the current emergency and, in line with CDP’s mission, medium-long term investments in support of overall economic recovery.
In line with criteria stated in the “CDP Green, Social and Sustainability Bond Framework”, several of the main initiatives will include easing access to credit, both directly and indirectly through the banking system, for Italian SMEs and supporting local authorities implement actions aimed, for example, at strengthening and intensifying local healthcare capacity.
In this moment of great difficulty, the transaction confirms today more than ever CDP's support to the Country, in line with the strategy outlined in the 2019-2021 Business Plan to expand forms of funding with high social and environmental impact, in line with the objectives of the United Nations 2030 Agenda.
The initiative is part of “CDP Green, Social and Sustainability Bond Framework” and is in line with the Social Bond Principles published by International Capital Market Association (ICMA).
Tranche 1: 3 years
Tranche 2: 7 years
€ 500 mln (3 yr)
€ 500 mln (7 yr)
CDP Covid-19 Social Response-Bond Investor Presentation
CDP Green Social and Sustainability Bond Framework
CDP Covid-19 Social Response Bond Deal Review