CDP’s sixth Social Bond aimed to support Italian SMEs and Mid-Caps mainly located in the Southern Italy regions. Therefore, Cassa Depositi e Prestiti strengthens its commitment to sustainable finance as well as its focus on maintaining employment levels and social cohesion while positioning itself as one of the main European players in the ESG bond market.
The issue is in line with CDP’s commitments to the Sustainable Development Goals promoted by the United Nations, with particular reference to SDGs 8 and 9 (respectively: "Foster sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all" and "Build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation").
The Social Bond 2021 is aimed at institutional investors, with a nominal amount of 500 million euro and is a fixed rate, unsubordinated, unsecured bond with an annual gross coupon of 0.75%, maturing at 8 years.
The transaction registered demand for about 2.5 billion euros, with over 90 investors interested, of which about 60 were foreign.
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 € 500 mln
Annual coupon 0.75%
CDP Green Social and Sustainability Bond Framework
ESG Second Party Opinion
CDP Social Bond 2021 Investor Presentation