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BCP pays 1.84% per annum on 500 million social bonds. Demand increased by 1.5 times – Markets



BCP pays 1.84% per annum on 500 million social bonds.  Demand increased by 1.5 times - Markets

BCP raised € 500 million in the first issue of the bank’s social debt. The yield was 1.84%, down from the original forecast due to strong demand. This is the first operation of its kind to be conducted by a bank led by Miguel Maya and the second by a Portuguese financial institution in the ESG (Environmental, Social and Corporate Governance) segment.

On Monday, the bank, headed by Miguel Maya, began a survey of investors to assess their appetite for issuing social security securities. Following the road show, the 6.5-year bond placement (and the early call 5.5 years later) was closed on Wednesday.

The issue was closed at a premium of 200 basis points to the average euro swap rate, which trades at -0.164%, bringing the final yield on these bonds to 1.842%. The price was 99,527, coupon rate 1.75%.
This fixed interest rate is applied for the first 5.5 years and then the interest rate will depend on the amount of the three-month Euribor with a 2% spread.

The benchmark coupon has been down all morning since the initial forecast 215-220 basis points above the average euro exchange rate with the same maturity of -0.12%. This downward revision of interest will be associated with strong demand, which exceeded 725 million euros (in other words, 1.45 times higher than supply).

The issue is classified as a priority social debt and was placed among institutional investors. Thus, these bonds comply with the MREL regulatory requirements. And the goal is to fund or refinance social assets classified by ESG criteria.

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“The amount equivalent to the net proceeds from the issue will be used as a priority for financing and / or refinancing loans provided by the bank through covid-19 lines, in accordance with the terms of the bank of green, social and sustainable bonds. as a clear demonstration of the commitment made by BCP Millennium to support the economy, in particular by financing the micro, small and medium-sized companies most affected by the recent pandemic, ”he said in a statement.

This makes BCP the second Portuguese bank to issue ESG debt, after Caixa Geral de Depósitos, the first national bank to issue sustainable bonds two weeks ago. At the time, the state bank issued EUR 500 million up to six years with a final rate of 0.4%.

The BCP operation involves six investment banks (Barclays, Credit Agricole, JPMorgan, Millennium BCP, Natixis and Unicredit). “The operation that followed the successful roadshow was carried out with the participation of a very diverse group of European institutional investors, many of whom are committed to investing in ESG, reflecting on the one hand the market’s confidence in the Bank and on the other hand , recognizing Millennium BCP’s commitment to sustainable financing, ”he adds.

(News updated at 7:20 pm with BCP comments)

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Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners



Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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The first Dacia hybrid. “The cheapest hybrid family on the market”



The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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See how Tesla tests its electric Semi truck in the worst-case scenarios



Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.

Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

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high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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