On Monday 10 September 2018, ENGIE successfully launched a new senior bond issue of €1 billion in two benchmark size tranches:
With an average coupon of 1.375% for an average maturity of 11 years, the conditions of this issuance are close to those obtained by ENGIE for its previous senior bond issued in June 2018 (€750 million at 10 years, coupon: 1.375%).
The market responded very favorably to this new issue from ENGIE, with a large oversubscription (4.7x) resulting in the order book reaching €4.7 billion. Demand came from investors of diversified geographic origins (mainly Germany and the UK, followed by France, Belgium, the Netherlands and Luxemburg), thereby confirming investors’ confidence in the strategy of the Group, and the credit quality of the ENGIE name.
This transaction fits perfectly with ENGIE’s financial policy to proactively manage its balance sheet and its funding by further strengthening the long term financial resources of the group, at attractive conditions.