• Strong Investor Demand: A2A’s inaugural €500M European Green Bond saw €2.2B in orders, oversubscribed 4.4 times.
• First of Its Kind: The bond is the first issued by a European corporate, fully aligned with the European Taxonomy.
• Strategic Sustainability Move: Funds will support energy transition and circular economy projects.

A2A successfully placed its first European Green Bond, securing €500M with a 10-year tenor. The bond was met with strong investor interest, drawing orders worth €2.2B, leading to an oversubscription ratio of nearly 4.4x.

Bond Details:

• Yield: 3.737% (Re-offer price: 99.080%)
• Coupon: 3.625%
• Spread: 125 basis points over the mid-swap rate
• Listing: Electronic Bond Market (MOT) via Borsa Italiana (from January 30, 2025)

Funds will be allocated strictly to projects aligned with the European Taxonomy, verified by Sustainable Fitch, without using flexibility pockets. These projects include electricity network upgrades, renewable energy expansion, energy efficiency initiatives, and waste collection improvements.

Related Article: Scotiabank Raises EUR 1 Billion in First-Ever European Green Bond Issue

Luca Moroni, CFO of A2A, stated:
“This issuance confirms A2A’s position as a reference institution in sustainable finance. It supports our ecological transition investments and strengthens the link between financial and sustainability strategy, advancing our goal of achieving 90% sustainable financing by 2030.”

The bond was issued under A2A’s European Medium-Term Notes (EMTN) Programme, approved by CONSOB in December 2024 and updated in January 2025.

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