Metrotenerife, the first canary company to issue Green Bonds
The Island Government has achieved that Metrotenerife refinance its bank debt, acquired for the construction and started up of the current lines 1 and 2 of the tram, through a bond issue on the capital markets.
The vice-president of the Island Government and president of Metrotenerife, Enrique Arriaga, appreciated the support of the political parties and highlighted that it is the first issue of Green Bonds en Canary Island, in line with the United Nations Sustainable Development Goals because Metrotenerife is a company dedicated to clean / non-polluting passenger transport.
With this financial operation, Metrotenerife replaces the Project Finance method by the issue of fixed income that will mean an important annual saving of financial costs for the company.
The Mobility director and vice-president of Metrotenerife, José Alberto León, explained that the issue has been of 130 million euro to 15 years with a profitability of 1.229% and maturity for the year 2036. The issue of Green Bonds has been subscribed to about twenty investors, 60% international and 40% nationally, and it has been carried out with the collaboration of Crédit Agricole, Cross Capital, AFI, Clifford Chance, Bankinter and Bondholders.