AIAF admits to trading the new social bond of Barcelona City Council

AIAF, the Fixed Income Market of BME, today admitted to trading the new social bonds issued by that Barcelona City Council for a total amount of €35 million. The issue is part of the mandate granted to Crédit Agricole CIB by the City Council’s Governing Commission to advise, structure and place one or several debt issues, for a maximum amount of €86.1 million. The bonds have a term of 10 years (their final maturity is December 2027) and their an annual coupon is 1.921%.

Crédit Agricole CIB has acted as structuring entity and sole underwriter, while the agent entity and payment agent for the bonds is Caixabank.

The Barcelona City Council has a BBB + rating, with positive outlook, granted by S&P Global; BBB +, with positive outlook, by Fitch and Baa2, with stable outlook, by Moody’s.

The social bond issues of the Barcelona City Council are part of the municipal action plan for 2016-2019, which sets the city’s objectives for generating sustainable social and economic development. In order for a project to qualify as sustainable, its objectives must be the improvement of the population’s access to essential services, socioeconomic development and progress, affordable housing, job creation, energy efficiency and clean transport, prevention and control of pollution and development of infrastructures for sustainable water management.


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