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Instituto de Crédito Oficial EUR 500mn long 4-year...

Instituto de Crédito Oficial EUR 500mn long 4-year Social Bond

Instituto de Crédito Oficial (ICO), the Spanish Public Sector Agency, and explicitly guaranteed by the Kingdom of Spain, today priced the first Social Bond benchmark issued after the release of the Social Bond Principles.

The new EUR 500 million long 4-year Social Bond benchmark transaction, is due on July 2021, pays a coupon of 0.10% and priced with a spread of +8bps over the SPGB 0.75% July 2021, equivalent to MS-2bps. This is ICO’s second benchmark transaction this year and the third Social Bond ever issued by ICO, demonstrating ICO’s leadership role and willingness to be an active advocate of the developing Social Bond market.

Press release