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Allen & Overy advises on the new green bond issued by A2A

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Tommasi Cristiano
Cristiano Tommasi

Partner

Rome

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Byrne Craig
Craig Byrne

Partner

Milan

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Pierfrancesco Bencivenga

Associate

Milan

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15 June 2022

Allen & Overy has advised the joint lead managers on the new EUR600 million green bond with a maturity of four years issued by A2A that will finance green projects aligned to the EU taxonomy.

The new transaction has received strong investor response: indeed, the total order book amounted to more than EUR1.7 billion, implying an oversubscription ratio of almost 3x. The new green bond, which is addressed to institutional investors only and has been issued under the Euro Medium Term Note Programme, is based on A2A’s Sustainable Finance Framework.

The net proceeds from the issuance will be used to finance and/or refinance strategic projects in the fields of circular economy and energy transition: the so-called Eligible Green Projects mainly relate to renewable energy, energy efficiency, and pollution prevention and control, as defined in A2A’s Sustainable Finance Framework.

A2A pre-emptively assessed the alignment of those green projects to the EU taxonomy (with particular reference to the substantial contribution to the environmental objective of “Climate Change Mitigation”).

The notes are subject to the English Law and will be listed on the Luxembourg Stock Exchange.

Allen & Overy advised IMI-Intesa Sanpaolo and Santander as global coordinators, and BBVA, BNP Paribas, Crédit Agricole CIB, Goldman Sachs International, IMI-Intesa Sanpaolo, Mediobanca, Santander and UniCredit as joint bookrunners with a team led by International Capital Markets partners Cristiano Tommasi and Craig Byrne, supported by associate Pierfrancesco Bencivenga.

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