ACCIONA has closed a €410 million German Schuldschein green loan. This transaction is the largest issuance of its kind by an Iberian company and the third largest one for southern Europe. The loan was closed at the low end of the expected coupon range, with almost triple the initial amount on offer due to strong investor demand.

The company initially offered the market a volume of €150 million, with maturities in three, five and seven years. As a result of the positive reception, the issue was expanded with an additional ten-year tranche and finally closed with a total amount of €410 million, adding another €260 million, while achieving the lowest coupon rate of the range on offer.

This is the fourth German Schuldschein green loan issued by ACCIONA and it represents a notable diversification of its investor base, as it has been placed among a score of financial institutions from 12 countries, including Germany, Greece and China.

This issuance is part of the company's Sustainable Impact Finance Framework and is structured as a green loan with local impact, as it will include reforestation of more than 160,000 trees, to be planted in the area affected by the 2021 wildfire in Navalacruz (Ávila, Spain).

The transaction has been coordinated by ING, Helaba, BayernLB and Erste Group as joint arrangers, with Helaba acting as paying agent and ING as sustainability coordinator. 

German Schuldschein loans are a hybrid instrument combining aspects of bonds and loans issued under German law, which allows diversification of corporate financing sources. The total value of Schuldschein issuances amounted to €22.5 billion in 2024.