Econostrum | Economic News in the Mediterranean

Suez places €2.6bn in green bonds

Written by Frédéric Dubessy on Tuesday, May 17th 2022 à 15:55 | Read 427 times

FRANCE. The Suez group (€7bn turnover and 35,000 employees) has successfully placed its first green bonds for €2.6bn. The water and waste specialist convinced more than 200 institutional investors throughout Europe. The operation "was subscribed approximately 2.9 times", the group said in a statement published on Monday 16 May 2022.

Green bonds are debt instruments issued on the market by a company or a public entity and help to finance the ecological transition by enabling companies to finance their projects specifically dedicated to the environment (development of renewable energies, investments in low greenhouse gas emitting transport, improvement of energy efficiency, etc.)

"The tremendous success of the placement of our first green bonds is a testimony to the confidence of the markets in Suez's credit quality, its business model and its financial policy. With this transaction, Suez gives investors the opportunity to contribute to the development of a world leader in water and waste, and confirms its leadership in sustainable development and innovation", commented Sabrina Soussan, CEO of Suez.

Three tranches with maturities of five to twelve years

These green bonds are intended to refinance part of Suez's debt that was financing eligible green projects. They will enable the group to "strengthen its financial structure by optimising both the average cost and the maturity of its debt", the group said. Suez's financial debt will be increased by four years and will reach more than six years.

The €2.6bn is the second largest green bond investment of 2022. It is divided into three tranches: €750m fixed rate with a maturity of five years and an annual coupon of 1.875%, €850m fixed rate with a maturity of eight years (annual coupon of 2.375%) and €1bn fixed rate with a maturity of twelve years (annual coupon of 2.875%).


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