Caima, a biorefinery of the Altri Group that produces cellulosic fibers for the textile industry, and Portuguese bank BPI formalized a financing operation for 50 million euros in Green Bonds. The operation was entirely organized and assembled and will be underwritten by BPI.
The issue is intended to finance the Caima Go–Green Project for the installation of a new biomass boiler (from forestry waste). The new center will allow Caima to abandon fossil fuels throughout its production process, ensuring total energy autonomy from exclusively renewable sources.
The Issue falls within the Altri Green Bond Framework, a document that obtained a Positive Second Party Opinion (“SPO”) from ESG ratings and research company specialized independent Sustainalytics, particularly regarding its alignment with the Green Bond Principles published by the International Capital Market Association.
BPI, as an organizer and subscriber of this Green Bonds issue, reinforces its role as reference financier of Portuguese companies, through the adoption of solutions based on sustainability principles. Since the beginning of the year, BPI has already advised and subscribed in total to 365 M.€ in sustainable financing operations. At an international level, the BPI Bank reinforces the CaixaBank Group’s positioning in “Sustainable Finance”.
Caima, which celebrates 135 years this year, produces dissolving pulp to produce textile fibers and other chemical specialties. It is the only company in Portugal and one of the few in Europe to produce dissolving pulp using the magnesium bisulfite process, with an installed capacity of 125 thousand tons per year.
BPI is focused on commercial banking activity in Portugal, providing a extensive range of financial services and products for business customers, institutional and private. BPI is part of the CaixaBank Group.
Image credits:
Image credits: Caima
