Valfortec issues a Green Bond of 25 million euros to intensify the development of 800 MW

Valfortec gets a BBB- credit rating from Axesor Rating
12/03/2021

Valfortec closed yesterday the issuance of a 25 million euro green bond in the Alternative Fixed Income Market (AFIM). The bond issue has a maturity of 5 years (until 2026) and a fixed annual coupon of 4.5%. The operation, in the first instance was estimated at 20 million euros, and aroused great interest since it began to be planned , finally increased by 25%, which confirms the interest that there is in companies with high credit quality in the renewable sector.

With the full economic amount of the bond, it will be possible to considerably boost the development of the company in Spain, Japan, Chile and the United Kingdom. It should be noted that Valfortec currently has an extensive portfolio of 800 MW projects spread throughout the aforementioned countries.

Is not the first time that the company has carried out an operation of these characteristics, since during the beginning of last 2020 it went together with Mirabaud to the capital market to obtain financing. On that occasion, a Project Bond was issued on the Frankfurt Stock Exchange (Germany) for a value of 51.8 million euros.

The consolidated international business model that the firm has been demonstrating over recent years has been a determining factor for the issuance rating to have been rated by the firm Axesor Rating as BBB-, a credit rating higher than other similar issues implemented in the sector.

In this operation, Valfortec has once again counted on the advice of the Swiss bank Mirabaud, which has operated as a structuring agent and Lead Manager. And in addition, other financial actors have also intervened such as Bankinter, which has been Co-Manager and payment agent; Ashurst has provided legal advice; PKF Attest acted as a registered advisor; and finally, EQA has assigned the green bond category. The operation has been a success thanks to the cooperation and dedication of all the parties involved.

From the organization itself, its Managing Director, Fidel Roig, values ​​the operation as a complete success. “Thanks to this operation the firm advances in its consolidation at an international level and is consolidated as an international benchmark in the renewable energy production market ”. The progressive and balanced growth of the company is based on a philosophy based on the long term, effort, commitment and technical specialization. Fidel himself remarks that “thanks to this philosophy we have been able to develop and operate high quality assets, as well as having a differential portfolio of international projects. Our goal is to take advantage of the opportunities offered by the sector and grow in an orderly and solid way.