Repsol, the Spanish oil and gas company was accompagnied by Natixis as Sustainability Structuring Advisor

Following November’s 2020 release of Repsol’s 2021-2025 Strategic Plan, today the company has presented its highly innovative New Transition Financing Framework. Natixis has been accompanying Repsol through the process as Sustainability Structuring Advisor. Repsol has developed an overarching transition framework which will be applied to financing solutions, including bonds and loans. The Frameworks gives Repsol the flexibility to issue:

  • Use of Proceeds bonds and loans (provides transparency on Repsol’s investments)
  • Sustainability-Linked bonds and loans (based on an holistic indicator and intermediary targets on the transition pathway of the company’s towards net zero emissions).

ISS ESG provided a second party opinion (SPO) confirming alignment of Repsol Transition Financing Framework with ICMA Sustainability-Linked Bond Principles and Green Bond Principles as well as LMA Sustainability-Linked Loan Principles and Green Loan Principles.

Moreover, for the first time in the O&G sector, the framework incorporates the applicable recommendations from the ICMA Climate Transition Handbook.

Repsol mandated Natixis (and another bank) to arrange a series of investors meetings commencing on Monday, June 21st through Wednesday, 23rd June. Repsol will present its new Transition Financing Framework, under which it can issue both Sustainability Linked Bonds and Use of Proceeds bonds.