As a result of the current situation, the ICO (Official Credit Institute) launches a public issue of social bonds with an amount of 500 million. The purpose of this aid is ffinance operations of SMEs, the self-employed and companies that aim to mitigate the impact that the pandemic is generating through the different instruments available to it: Mediation Lines, direct financing programs and the funds managed by AXIS, its venture capital subsidiary. The initiative has an investor return of 0.259 % and a four-year term. We highlight that there has been the highest subscription for an ICO bond transaction, with a demand of more than 3.5 billion euros.64% have been placed among investors accredited as socially responsible, this shows the interest of investors in this type of issue, since ICO grants are an international benchmark and have a global impact. The high demand generated by investors has approved the closing of the transaction with a spread of +14 basis points above the Treasury benchmark. We also highlight that 67% of the bonds have been for foreign investors: France, Asia and the Middle East, Germany and the Nordic Countries. It is important to consider The ICO show of commitment, is the first Spanish issuer to launch a public issue of social bonds aimed at alleviating the effects of the current crisis.
