PLMJ and Clifford Chance advise REN on green bond issue

PLMJ and Clifford Chance have advised REN on its second green bond issue worth €300 million.

The bonds have a tenor of eight years and are in line with REN - Redes Energéticas Nacionais, S.G.P.S., S.A.'s new Green Finance Framework. This bond issue was seven times oversubscribed and is part of the REN Group's financing and sustainability policy.

The PLMJ team involved in this operation was led by partner and practice head André Figueiredo and partner Raquel Azevedo. It also included associates Tiago Azevedo Basílio and Marta Spínola de Freitas, all from the Banking and Finance and Capital Markets practices, as well as members of the Tax and Energy teams.

On the Clifford Chance side, the operation was led from Madrid by Capital Markets partner Antonio Henriquez, who worked closely with partner Jurgen van der Meer from the Amsterdam office. The team was also supported by Anna Buscaglia and Dewi Walian.

In 2021, PLMJ and Clifford Chance worked with REN on the first green bond issue of the same value.