Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. EBRD backs sustainability-linked bond issued by Romania’s mobility...

EBRD backs sustainability-linked bond issued by Romania’s mobility firm Autonom

November 30, 2021

EBRD invests €10 million in Romania’s first sustainability-linked bond: Car leasing and rental firm Autonom is raising finance for environmentally friendly growth By 2025, the company plans to cut operating fleet’s carbon emissions by 25 per cent   The European Bank for Reconstruction and Development (EBRD) is investing €10 million in a €48 million sustainability-linked bond issued by Autonom, a Romanian car leasing and rental company. This is Romania’s first sustainability-linked bond and the debut issuance under Autonom’s five-year €250 million corporate bond programme.   Autonom’s services include car leasing, fleet management and short-term rental of vehicles. The company is raising finance to pursue environmentally friendly growth. It aims to expand the car fleet to meet increased demand from local business, while reducing its carbon footprint. In line with its sustainability strategy, by 2025, the company plans to cut the operating fleet’s carbon emissions by 25 per cent, and by 51 per cent by 2030.   Mark Davis, EBRD Regional Director for Romania and Bulgaria, said: “Autonom’s sustainability-linked bond is a milestone for Romania as the first instrument of this type issued locally. By launching this programme, which underpins Autonom’s ambitious sustainability strategy, the company signals its commitment to significantly reducing its carbon footprint, which is consistent with decarbonisation objectives of European Union countries. We are proud to support Autonom in its sustainability journey.”   Marius and Dan Stefan, the co-founders of Autonom, commented: "We believe that the future belongs to companies with valuable, transparent, and responsible business models. These criteria will become a benchmark for all and we believe that the Romanian capital markets will provide extraordinary opportunities for local companies that care about their impact in the society. We appreciate the thoughtful advice, the passion for excellence and the strong commitment of the EBRD. We are grateful for the Bank’s trust, dedication and support for our ambitious vision.”   Founded in 2006 in Piatra Neamt by entrepreneurs Marius Stefan and Dan Stefan, Autonom has more than 500 employees and operates a fleet of over 9,000 cars. It is a member of the EBRD’s Blue Ribbon programme, which delivers tailor-made financing and sector-specific advice – covering operational, management and financial advisory – to high-growth small and medium-sized enterprises (SMEs) over the course of five years.   The EBRD is a leading institutional investor in Romania and has invested €9.3 billion through 477 projects in the country to date, with 77 per cent of that in the private sector.

The text of this article has been partially taken from the publication:
ActMedia
Read in full - click here
'We're clean now': Back in power, Romania's PSD wants to put its toxic past behind it

Under Liviu Dragnea, the Social Democrats became a byword for corruption and graft. Now a new crop of leaders says that the party has changed.  

“Green, blue and circular” v. “black” economy for the Mediterranean?

“Heading towards a Greener Mediterranean” is the promotional slogan of the kick-off meeting for the launch of the INTERREG EURO-MED 2021-2027 program, to be held… Read More »  

PRESS STATEMENT BY SECRETARY OF STATE ANTONY J. BLINKEN - Romania National Day

December 1, 2021      On behalf of the United States of America, I congratulate the Romanian people as you celebrate Great Union Day, the anniversary of the unification of your country.      Romania and the United States enjoy a longstanding partnership built on shared values, common interests, and strong people-to-people connections.  We are proud to stand alongside Romania as NATO Allies, working together to […]

CNSU approves repatriation of Romanian citizens stranded in Kingdom of Morocco

 On Tuesday, the National Committee for Emergency Situations (CNSU) approved the repatriation of CNSU approves repatriation of Romanian citizens stranded in Kingdom of MoroccoRomanian citizens currently stranded in the Kingdom of Morocco.According to Decision 109, the repatriation will be conducted by also activating the EU Civil Protection Mechanism, as a result of the suspension of […]

Bogdan Aurescu, at the meeting of NATO Foreign Ministers

Minister of Foreign Affairs Bogdan Aurescu is participating, on Tuesday and Wednesday, in Riga, Latvia, in the meeting of NATO Foreign Ministers, an important milestone in preparing negotiation of NATO's New Strategic Concept. NATO, as well as the NATO Summit in Madrid in 2022."The Minister of Foreign Affairs, Bogdan Aurescu, will participate, between November 30 […]

Finance minister about 2022 budget: No new or higher taxes

Adrian Caciu, the minister of public finances, announced on Facebook, on Tuesday, that the draft budget for 2022 was being built and criticized the former liberal government. “We must recover many delays and things not carried out in time, and we are working on finding solutions,” Caciu said, pointing out that the government would not […]