First green bond to start trading on MSE

Malta’s first green bond issued by ClearFlowPlus plc, a subsidiary of the Water Services Corporation, is now officially listed on the Malta Stock Exchange

21 August 2023, 2:42pm
by Kurt Sansone

1 min read

The tunnel connecting the Pembroke reverse osmosis plant with the Ta' Qali reservoir is one of the projects that will be financed by the green bond (Photo: WSC)

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A €25 million green bond issued by the Water Services Corporation was admitted on the Malta Stock Exchange on Monday, the exchange’s CEO said.

Trading in the first-ever bond of its kind will commence on Tuesday 22 August.

The bond issued by WSC subsidiary ClearFlowPlus plc, carries an interest rate of 4.25% and matures in 2033. It had been fully subscribed within a matter of hours when issued on 1 August.

The WSC, a state entity that manages water production and distribution, will be using the proceeds to finance environmentally friendly projects, including the reverse osmosis plant in Ħondoq, solar farms, wastewater treatment aeration, reducing non-revenue water and improving billing efficiencies, and water network infrastructure.

WSC CEO Karl Cilia had described the bond as a significant milestone in the company’s journey towards becoming a net zero-impact utility.

Kurt Sansone is Executive Editor of MaltaToday. He was formerly deputy editor of MaltaTod...