MAPFRE secures five-year sustainable loan valued at €500m

Written by Adam Cadle

17/10/2024

MAPFRE has secured a five-year syndicated loan valued at €500m, extendable twice for an additional year each time.

This operation replaces a previous €1bn loan, optimising the financing structure without compromising access to liquidity, while keeping the rest of the financial conditions unchanged from the previous loan.

The new financing reinforces MAPFRE’s commitment to sustainability, as it’s linked to two key material environmental indicators aligned with the group’s strategy and public objectives: compensating for the carbon footprint in the countries where it operates and reducing total emissions from its corporate fixed-income and equity portfolio by 43% by 2030 (compared to 2022).

The interest rate is determined not only by MAPFRE’s credit rating but also by its progress on these sustainability targets.

The financing was negotiated with a consortium of banks, with Santander, BBVA, and Bankinter serving as bookrunners. Santander is also acting as the coordinator and sustainability agent. Other participating banks include Citi, Barclays, BNP Paribas, and Crédit Agricole.

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