Snam has launched its inaugural €500 million Transition Bond, whose proceeds will be used to finance projects in the energy transition, known as the Eligible Projects.
The issuance, which is reserved to institutional investors, reached more than three times over-subscription by high quality and geographically diversified institutional investors.
The success of our first Transition Bond, a market in which we are a global frontrunner, is a sign of the market’s trust in our energy transition initiatives, and encourages us to proceed along this path with even greater determination. Sustainable finance is a pillar of Snam’s strategy and an essential contributor to our activities and technologies for decarbonization and the Green Deal, from hydrogen, to biomethane and energy efficiency”.Marco Alverà, Snam’s CEO,
Through issuing this Transition Bond, which follows the Climate Action Bond issued in February 2019, Snam aims to ensure the company’s financial strategy is fully aligned with the energy transition through its sustainability objectives, as well as to further expand its investor base.