Grupo Cajamar places 500 million in senior preferred debt

Demand has reached 1.6 billion euros, 3.2 times higher.

Grupo Cooperativo Cajamar, through Banco de Crédito Social Cooperativo, placed a senior preferred debt issue for €500 million with a six-year maturity. Demand reached €1.6 billion, representing 3.2 times the amount to be issued. Given the positive market response, the coupon price was set at 3.5%, below the initial price.

The positive performance, results, and investment-grade rating of Grupo Cooperativo Cajamar from the three rating agencies (Fitch Ratings, S&P, and DBRS) have increased market interest, with the issue receiving an excellent response, with high volume of orders from high-quality accounts, exceeding 100 institutional investors, more than 80% of which are international.

The banks participating as Joint Bookrunners were BofA (Bank of America), Crédit Agricole, HSBC, Société Générale and BBVA.

At the same time, BCC-Grupo Cajamar has launched a rTender Offer for its €500 million senior preferred bond issued in 2022 with social label, maturing on September 22, 2026. Investors will be able to access this offer until June 10th.