Investor Presentaiton
Comunidad de Madrid 2021 Green Bond review
Final Terms and Conditions
Issuer
Issuer Ratings
Issue Ratings
Format
Ranking
Size
The Autonomus Community of Madrid
Baa1/A-/BBBU/AL (all Stable) Moody's/S&P/Fitch/DBRS
A-/AL (S&P/DBRS)
Regs, Bearer Dematerialised (No sales into Canada)
Senior, Unsecured
EUR 500m
Risk Weighting
0%
Maturity
Settlement
Coupon
Reoffer Spread
Reoffer Price
Listing
Gov Law
Bookrunners
ISIN
30th July 2028
26th November 2021 (T+7)
0.16% Fixed, Annual, Act/Act - Short first
SPGB 1.4 07/28 (mid) + 11 bps @ 0.05% 94% HR
100%
AIAF
Spanish
BBVA, CaixaBank, CACIB, DB (B&D) and Santander
ES00001010G6
Investor Type and Geographic Distribution
28%
18%
18%
14%
10%
7%
3%
2%
Spain
Germany &
Austria
Italy
BeneLux
France
Switzerland Scandinavia Rest of Europe
38%
38%
16%
8%
Transaction Highlights
• On November 16th 2021, the Autonomous Community of
Madrid formally mandated banks for a new 7yr Green Bond.
• On November 17th, and with substantial lols from investors,
IPTS were released at SPGB+14bps area which enabled the
book to gain further momentum and continue growing,
reaching EUR1bn demand (excluding JLM interest) two hours
after the announcement:
• Books peaked over EUR1.2bn (including JLM interest),
allowing to revise price to SPGB+12bps area (+/-
1bps).
• The strength and the granularity of the book with
over 85 accounts involved allowed the Autonomous
Community of Madrid to land a final spread of
SPGB+11 bps.
• The spread of SPGB+11 bps was the tightest level over SPGB
ever printed by the Community of Madrid in a syndicated deal.
•
This spread also represents only 1bps new issue premium to
its secondary curve in a period of extreme volatility in fixed
income markets, which clearly reflects the strong support
from its investor base.
• Community of Madrid also consolidated its position as the
leading issuer of sustainable bonds, being the first Spanish
public sector issuer to print two green syndicated bond deals.
SRI
64%
Banks
FM
PF-Ins
Off. Inst
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