Social Bond aimed to support Italian Companies investing in research, development and innovation and those hit by the coronavirus emergency.
The issuance was subscribed by over 180 investors, 76% of which were foreign, recording the highest participation of foreign investors among all of CDP’s ESG bonds.
The proceeds are used to support Italian companies that invest in research, development and innovation and those harshly hit by the Covid-19 emergency, with the goal to sustain their future growth and the employment.
The transaction follows the “Covid-19 Social Response Bond” issuance of April 2020, which funds were used to provide a timely response to the emergency resulting from the pandemic and to support the Country’s economic recovery.
At its fifth Social Bond issuance, Cassa Depositi e Prestiti is further strengthening its commitment to sustainable finance and confirming its position as one of the leading European players in the ESG social bond market.
In this time of great difficulty, the issuance confirms more than ever CDP’s support to the country, in line with the strategy outlined in the 2019-2021 Business Plan which aims to expand the forms of funding with a high social and environmental impact, in line with the goals of the United Nations 2030 Agenda.
The initiative is part of the “CDP Green, Social and Sustainability Bond Framework", on which ISS ESG has released a Second Party Opinion and is in line with the Social Bond Principles published by the International Capital Market Association (ICMA).
Tenor 8 years
Size € 750 mln
Annual coupon 1.00 %
CDP Green Social and Sustainability Bond Framework
ISS ESG Second Party Opinion
CDP Social Bond 2020 Investor Presentation
CDP Social Bond 2020 Deal Review
CDP Social Bond Report
Methodology for estimating the impacts
ISS ESG External Review on CDP Social Bond Report