On Wednesday morning, Malta’s first green bond, issued by ClearFlowPlus plc, a subsidiary of the Water Services Corporation, celebrated its first listing on the Malta Stock Exchange with the traditional Ringing of the Bell ceremony.
This €25 million bond, boasting a 4.25% interest rate and maturing in 2033, was fully subscribed within a few hours after its issuance on August 1st.
The formal commencement of trading was accompanied by the Minister for the Environment, Energy and Enterprise Miriam Dalli, Malta Stock Exchange (MSE) Chairperson Joseph Portelli together with Water Services Corporation CEO Karl Cilia and the corporation’s directors.
The proceeds from this bond will be used for financing a range of eco-conscious initiatives, including the reverse osmosis plant at Ħondoq ir-Rummien, the establishment of solar farms, improvements in wastewater treatment aeration, reduction of non-revenue water, enhancements in billing efficiencies and upgrades to water network infrastructure.
These green bonds align seamlessly with the United Nations’ Sustainable Development Goals and the European Union’s Green Deal, representing the Water Services Corporation’s unwavering environmental commitment and its dedication to investing in sustainable water management.
The Minister for the Environment, Energy, and Enterprise Miriam Dalli commended the initiative as an important milestone in Malta’s path towards a sustainable future. She remarked that “this initiative not only underscores our commitment to environmental stewardship but also positions Malta, amongst other leaders in green finance.”
Malta Stock Exchange Chairperson Joseph Portelli said “I’m proud of this historic moment – not only a first in that we have the first listing on the green market, but it’s also the first time that an entity affiliated with the Maltese government, other than the Maltese government itself, has come to us. There is a palpable appetite for well-managed corporate entities of high quality to join Malta’s stock exchange, offering our investors robust opportunities to invest.”
Karl Cilia, CEO of the Water Services Corporation noted that “the listing of our first green bond exemplifies our dedication to advancing sustainable practices in Malta. It’s a testament to the trust that investors have in our vision for a greener future, and we’re excited to lead the way in this domain.”
For more information, visit www.wsc.com.mt