Spain mandates new 20-year green bond syndication, seeks to raise €4 billion
* The deal is expected to raise €4 billion ($4.65 billion) and will be launched in the near future, subject to market conditions, the memo said.
* Barclays, BBVA, Credit Agricole CIB, J.P. Morgan, Morgan Stanley and Santander have been selected as lead managers.
Spain has announced a new initiative requiring banks to participate in a syndicated 20-year green government bond, aimed at generating about four billion euros soon. Leading financial institutions such as Barclays, BBVA, Credit Agricole CIB, J.P. Morgan, Morgan Stanley, and Santander will manage the offering. Additional primary dealers will be welcomed in the syndication while the funds raised will align with Spain’s refreshed Green Bond Framework.
* Other primary dealers in Spain’s government bond market will be invited to join the syndication.
* Proceeds will be used in line with Spain’s updated Green Bond Framework, the memo said.
