EBRD backs Mytilineos' inaugural green bond with EUR 60m

The European Bank for Reconstruction and Development (EBRD) invested EUR 60 million (USD 72.5m) in the EUR-500-million green bond offering of Greek industrial and energy group Mytilineos SA (FRA:MYH).

The financing commitment will help the Greek company implement its sustainability strategy and further lower its carbon footprint in line with a 2050 net-zero emissions goal, the EBRD said on Monday.

Mytilineos will allocate the raised funds from its maiden green bond sale to support “eligible green projects with clear environmental benefits.” As previously announced, the company will seek to deploy over 2.5 GW of renewable energy capacity, both abroad and at home, to back its environmental pledge.

Commenting on the deal, Frederic Lucenet, EBRD head of manufacturing and services said: “Their green bond and net-zero carbon commitments can have a significant demonstration effect for other industrial producers in the EBRD regions.”

The senior unsecured notes have a 5.5-year tenor and will mature in 2026. They bear an annual coupon of 2.25%. According to a report by local newspaper Kathimerini last week, the bookbuilding process for the offering was four times oversubscribed, with commitments reaching EUR 1.8 billion in total.

(EUR 1.0 = USD 1.209)

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