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Aqualia obtains a €1.1 billion green corporate loan, led by CaixaBank

23/06/2022

Aqualia obtains a €1.1 billion green corporate loan, led by CaixaBank

  • CaixaBank has led the syndicated loan, acting as financing coordinator, agent bank, solebookrunner and sustainability agent
  • Aqualia will use the loan to finance and refinance green projects, such as water and waste treatment, renewable energy and sustainable transport, among other eligible projects
  • This is the largest green syndicated loan in Spain this year
     

Aqualia, one of the world's leading water management companies, has obtained a €1.1 billion syndicated green corporate loan in which ten bank institutions have participated, led by CaixaBank, which has acted as coordinator of the financing, agent bank, solebookrunner and sustainability agent. 

Aqualia will use this loan to finance and refinance eligible green projects and its activities, such as water and waste treatment, water distribution and storage, renewable energy and sustainable transport, among other projects. 

This operation is the largest green syndicated loan in Spain this year. The financing is linked to Aqualia's Green Financing Framework, which has been advised by CaixaBank, and has been backed by a Second Party Opinion from DNV, which has validated the eligibility of the projects that are aligned with LMA's Green Loan Principles.

According to Isidoro Marbán, Aqualia's CFO: "This financing provides Aqualia with great stability in its long-term capital structure at a time when the financial markets are highly volatile and recognises the solidity of the business and its orientation towards a sustainable economy and sustainable services".    

The financing also involved the participation of Allen & Overy and Garrigues as legal advisors to the transaction.

Aqualia serves 45 million people in 17 countries with sustainability as a strategic asset in its management

Aqualia is the water management company owned by FCC (51%) and the ethical fund IFM Investors (49%). The company is the 4th largest water company in Europe by population served and the 9th largest in the world, according to the Global Water Intelligence ranking (March 2021). It serves 45 million users and promotes long-term projects in 17 countries: Algeria, Saudi Arabia, Colombia, Chile, Peru, Egypt, Arab Emirates, Spain, France, Italy, Mexico, Oman, Portugal, Qatar, Czech Republic, Romania and Georgia. 

The company is considered a benchmark brand in the sector, positioned as cutting-edge, specialised, transparent and innovative. Thanks to a committed team, with great experience, which constantly seeks to improve efficiency in production processes and optimisation of resources and with a clear orientation towards the citizen.

The commitment and responsibility to the municipalities in which Aqualia operates is not only limited to the provision of the service, but goes beyond: it always seeks to contribute to improving the well-being of the people and, in particular, of the most vulnerable groups.

CaixaBank, a European benchmark in sustainability

CaixaBank's sustainability initiatives focus on promoting the energy transition of companies and society as a whole, including the development of solutions for individuals focusing on mobility and sustainable housing, and the promotion of investments with ESG criteria. 

Within the framework of the new 2022-2024 Strategic Plan, CaixaBank aims to mobilise €64,000 million in sustainable financing, through the promotion of various initiatives focused on product offerings, ESG advice, awareness-raising and training.

CaixaBank is ranked 6th in Europe in green and sustainable loans in the League Tables Top Tier by volume, according to Refinitiv, and is the best-placed Spanish bank in this ranking.