ENGIE issues a triple tranche senior bond for a total amount of 2.5 bn EUR

By ENGIE - 24 March 2020 - 10:09

On Friday 20 March 2020, ENGIE issued a triple tranche senior bond for a total of EUR 2.5 billion (EUR 1 billion, 5 years, 1.375% coupon / EUR 750 million, 8 years, 1.75% coupon, green / EUR 750 million, 12 years, 2.125% coupon, green). The average coupon amounts to 1.71% for an average maturity of 8 years.

The new issue was significantly oversubscribed with total order book reaching over EUR 9.5 billion at the final price. The banks leading the transaction were Bank of America, Citi, Commerzbank, HSBC, Mizuho, Natixis (also acting as Green Structurer), Royal Bank of Canada and Société Générale.

This successful issuance further improves ENGIE’s financial position that amounted, at the end of February 2020, to EUR 16.4 billion of liquidity(1) including EUR 8.6 billion of cash.

With this new issue, the total outstanding amount of green bonds issued by the Group is EUR 11.15 billion, confirming ENGIE as the largest corporate issuer of green bonds.

Judith Hartmann, member of ENGIE's executive leadership team, said :

This successful bond placement is evidence of ENGIE’s recognized strength and leadership in the green financing market, notwithstanding the current health and economic crisis. This issuance further strengthens ENGIE’s already robust balance sheet, and provides enhanced liquidity to enable ENGIE to manage through the continuing volatility in our operating environments.

(1) Liquidity = net cash + undrawn credit facilities – outstanding commercial papers