Cajamar places a new EUR 600 million covered bond with a 5.5 years maturity

Cajamar Caja Rural has completed the placement of a new issue of covered bonds for an amount of 600 million euros and maturity on July 25, 2029 (5.5 years). The orders received have surpassed 875 million euros.

Cajamar Caja Rural has completed the placement of a new issue of covered bonds for an amount of 600 million euros and maturity on July 25, 2029 (5.5 years). The orders received have surpassed 875 million euros. The placement price of the issue has been set at 78 basis points over the mid-swap rate, similar to its peers’, and will pay an annual coupon of 3.375 %.

This issuance, the first carried out this year, is part of the financing plan for 2024. The demand obtained in the placement shows the support of Spanish and European institutional investors for the financial activity of the Cajamar cooperative bank, as already shown in previous issuances of senior preferred 'green' debt and 5 years covered bonds, carried out in 2023.

The joint lead managers for this transaction have been BBVA, Crédit Agricole, Deutsche Bank, Nomura and Santander.