Inaugural Sustainability-Linked Bond for second largest UK airport Gatwick, a major step towards its net zero objectives
The transaction, under a Sustainability-Linked Financing framework that encompasses scope 1, 2 and 3 decarbonisation targets including landing and take-off emissions, is a great achievement for both the client and Crédit Agricole CIB’s UK teams involved.
Gatwick Airport, the second largest airport in the UK and 8th largest in Europe, made its debut in the EUR market earlier in October with an inaugural €750m 9 Year Inaugural Sustainability-Linked Senior Secured Bond. Preceded by 2 days of marketing with strong investor participation and thanks to the solid expertise of our teams, the transaction was a great success with final books reaching more than €2.4bn. After closing, Investors from the UK & Ireland accounted for the majority of final allocations at 51% while European demand accounted for 41%.
Crédit Agricole CIB has played the role of Joint Sustainability Structuring Coordinator and Active Joint Bookrunner on the transaction.
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