The bank signed a commitment to promote the objectives of Lisbon Green Capital 2020, and it was also involved in the launch of the year's first corporate hybrid - the new Green Hybrid Bond.
Santander Portugal, in its capacity as a company undertaking the objectives of Lisbon Green Capital 2020, has signed an undertaking with Lisbon Town Hall to promote waste reduction and separation, sustainable mobility and energy savings. The bank has already implemented a number of the measures in the document in Portugal, and has promised to implement more, such as the elimination of single-use plastic (an initiative already ongoing at the bank's premises), parking spaces for ecological cars and for shared cars, and universal access to buildings.
In late 2019 Santander Portugal signed the Business Mobility Agreement, the objective of which is to bring together businesses and other institutions, including municipal bodies, to improve and transform mobility in the city, while simultaneously protecting the planet.
Santander Portugal was also involved in the launch of 2020's first corporate hybrid bond - the new Green Hybrid Bond - presented by EDP (Energías de Portugal).
EDP set the price for the issue of subordinated green debt instruments at EUR 750 million. The bonds are hybrid bonds because one portion of the yield is fixed (interest rate) and the other is comparable to the capital. The yield on the bonds to be issued by EDP will be fixed over the first 5.5 years, and this will be modified if the company does not proceed with reimbursement in 2024.
Applications are expected from more than 310 accounts in the UK (25%), France (24%), Germany (16%) and Italy (11%).
According to Rui Corrêa Henriques, from the Santander Corporate and Investment Banking – Global Debt Financing area: "We are proud that Santander forms part of the banking syndicate EDP prefers to work with. It makes us feel we are moving in the right direction, and that we are one of the principal banks for this kind of operation".
Take a look at the responsible banking commitments undertaken by Banco Santander.