Aeroporti di Roma Issues €400 Million Sustainability-Linked Bond

Aeroporti di Roma (ADR) has successfully completed the placement of its new Sustainability-Linked Bond, raising €400 million from institutional investors. The bond’s cost of debt is directly tied to specific sustainability targets related to reducing CO2 emissions and maintaining ACA4+ certification. ADR has seen strong international interest in the issue, with requests almost five times the offer. This bond follows ADR’s inaugural Green Bond in 2020 and its first Sustainability-Linked Bond in 2021. With the issuance of this bond, ADR’s share of “sustainable” debt has increased to over 60%. ADR aims to achieve zero net emissions by 2030 and a 30% reduction in CO2 emissions per passenger by 2030. The bond will be listed on the Irish Stock Exchange, with an annual fixed-rate coupon of 4.875%. ADR will continue to update its framework with progressively increasing targets, including on Scope 3. The syndicate of banks, including Barclays and Crédit Agricole CIB, acted as sustainability structuring coordinators, while a Tender Offer was also launched for ADR’s €500 million bond maturing in 2027.

Resource: https://esgnews.com/aeroporti-di-roma-issues-e400-million-sustainability-linked-bond/

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