In 2017, we transformed a syndicated loan of 800 million euros into sustainable financing by adding environmental, social and good governance criteria (ESG criteria) to the applicable interest rate. The terms and conditions of the loan were thus linked to the evolution of these parameters based on the rating of Vigeo Eiris and, one year later, thanks to the improvement of the sustainability rating obtained, we have reduced the cost of the syndicated loan. See more information
“These results reinforce the commitment of the Red Eléctrica Group to sustainability at a strategic and cross-cutting level, and with a long-term vision”
Teresa Quirós, Chief Financial Officer
1. Contribution to the Group's Sustainability Commitment
2. Alignment with the Group's strategy
3. Opening of new financing markets
4. Possibility of reducing the cost of financing
5. Strengthening the relationship with sustainability agencies and financial agents
6. Support for the positioning of Red Eléctrica as a sustainability leader
This green loan is encompassed within the essential course of action "Contribution to financial soundness with ESG criteria" of our 2017-2019 Sustainability Plan and is especially relevant for the achievement of the SDG "Decent work and economic growth".
|Action||2017-2019 Sustainability Plan of the Red Eléctrica Group||Achievement of SDG|
|Green syndicated loan||
Essential course of action Nº8. Contribution to financial soundness with ESG criteria.
Favour the Company’s financial soundness, through responsible and transparent economic-financial management, to ensure that the required investments are addressed and to maximise shareholder return.
More information on the 2017-2019 Sustainability Plan of the Red Eléctrica Group
This transaction was the first green syndicated loan in the utilities sector in Europe, contributing to sustainable economic growth.