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Adif issues new green bonds worth 600 million

The Spanish manager of rail infrastructure Adif has successfully issued 600 million Euros in bonds to invest in projects with environmental benefits. International investors accounted for 67 per cent of the total, with French and German investors being the main source. Investors considered as socially responsible accounted for 60 per cent of the total.

The bonds have an eight-year duration and a 0.95 per cent payment interest annually. The issued bonds were 3.26 larger than what was offered, a record figure. Adif has issued them under International Capital Market Association (ICMA) rules, Cicero and bc3 having assessed the operation. Adif already issued ‘green’ bonds in June 2017 and April 2018. The 2018 bonds financed high-speed developments and energy optimisation projects, which have cut 556,820 and 16.7 million tonnes of CO2 respectively in a 30 year timeframe. The EU will invest 809 million additional Euros to the projects financed with the bonds.

Climate change

Adif has been awarded with the environmental certificate ISO:14001 and it has an energy-saving plan to cut 10,681 Gwh until 2020. It has a climatic change plan for the period 2018-2030, focusing on the use of renewable energies and the increase of the rail market share. As a result, Adif has generated electricity from renewable sources in 2018 and 2019. It plans to meet all its power requirements using this kind of energy.

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Author: Jose Gutierrez

Jose Gutierrez is RailFreight's correspondent in Spain.

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