Italian wireless network infrastructure company INWIT issued its first ever ESG-labelled instrument, a EUR850 million Sustainability-Linked Bond (SLB) maturing in 2032. The bond is tied to a Sustainability Performance Target (SPT) of a 37% absolute reduction in Scope 1, 2 and 3 emissions by 2030 from a 2020 baseline.
With SLB issuance volumes muted relative to their 2021 peak, the entry of a crossover issuer into the SLB market is a positive sign.
The SLBs book cover ratio shows potentially stronger relative demand than an earlier INWIT vanilla transaction this year, aligning with broader 2025 data suggesting that EUR corporate ESG-labelled deals attracted higher book cover ratios than vanilla ones.
Based in London, Praha covers topics including but not limited to the just transition, sustainability-linked bonds and deforestation. He previously spent seven years in Lloyds Bank’s Debt Capital Markets team.
Based in London, Jo leads AFII’s research and a global team supporting fixed income investors as they align their portfolios with climate and sustainability goals. She joined AFII after 18 years in fixed income markets at JPMorgan.
