Africa-Press – Cape verde. Annually, an amount of approximately 3.05 million escudos (27.67 thousand euros) will be deposited into the account of the Agostinho Neto University Hospital (HUAN), which amounts to approximately 9.16 million escudos (83.05 thousand euros ) taking into account that the maturity of the loan is three years” , stated the president of the Cape Verde Stock Exchange (BVC), Miguel Monteiro.
In November, the International Investment Bank Cabo Verde (iibCV, Banco Internacional de Investimentos) opened the subscription period for green bonds to support environmentally friendly projects in the country’s main hospital.
The issuance of these green bonds aims to enable the financing of iib’s activity, which includes the implementation of the sustainability and social responsibility policy, with additional remuneration, corresponding to 0.5% per year on the total amount subscribed, to be donated to HUAN , in the country’s capital.
The offer period ran from November 24th to December 27th, the results with physical and financial settlement took place the following day and the quotation on the BVC was published today, December 29th.
When presenting the results of the issuance of the first green bonds, in Praia, Miguel Monteiro explained that the public offer for subscription and admission to listing of these bonds had an initial amount of 400 million escudos (3.63 million euros).
Due to “great demand “, the total subscribed was 610.47 million escudos (5.54 million euros), which translates into demand 1.53 times greater than the initial offer.
Around 35% of the total amount subscribed was made by non-residents.
A total of 79 valid subscription orders were submitted, with 63 subscribers from African countries, 13 from Europe and three from the United States of America.
Around 27% of the number of subscribers are non-residents, a figure higher than that achieved in the public offering of Blue Bonds [Blue Bonds] carried out at the beginning of the year, which was 21%.
The resources will be used by Hospital Agostinho Neto to finance projects aimed at generating renewable energy, energy efficiency, reducing pollution, water and waste management and installing solar panels.
The initial objective was to reach a global amount of 750 million escudos (6.8 million euros), where HUAN would receive around four million escudos per year (36 thousand euros), which would total around 12 million escudos (108 thousand euros) until the end of the operation’s maturity, which is three years.
The president of the iibCV Executive Committee, Francisco José Ferreira, said that this obligation is “another piece in what have been the bank’s pilot programs in trying to transform itself into an aspect of internal culture in which sustainability and social responsibility begin people’s hearts and not from a written, methodological aspect or a regulatory imposition to which they are obliged”.
The bank is the third largest in Cape Verde, led by the iib group from Bahrain and 10% owned by the Portuguese Novo Banco.
The last public offering for subscription of bonds at BVC took place in January 2014, with Imobiliária, Fundiária e Habitat (IFH, a state-owned company) as the issuer.
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