Joint Bookrunner in the Inaugural Green Bond of Cassa Depositi e Prestiti

The Intesa Sanpaolo IMI Corporate & Investment Banking Division acted as Joint Bookrunner in the Inaugural Green Bond of Cassa Depositi e Prestiti (CDP).

CDP successfully launched its first Eur 500 mln 6yr Green Bond reserved to institutional investors. The debut issue received strong interest from the market, with an orderbook exceeding Eur 2.6 bn more than 5 times the offer and involving more than 130 investors. International request was significant and reached 80%, also evidencing the strong presence of ESG investors. The huge demand allowed the issuer to price the transaction with a spread of 35bps over the reference BTP.

This issue confirms CDP’s role as leading issuer of sustainable finance securities and further expands the ESG funding instruments offered to the market, following the eight issues already launched since 2017 in Social and Sustainability format under the “CDP Green, Social and Sustainability Bond Framework”.
At the same time, through this transaction CDP also accelerates its commitment to sustainability, with proceeds earmarked to support green initiatives with positive environmental impacts. In particular, CDP will allocate the proceeds of this Green Bond to loans aimed mainly at infrastructure investments in the sectors of renewable energy, energy and water efficiency, and sustainable mobility.