SUEZ Issues Inaugural Sterling Green Bond, Attracting Strong Investor Demand

SUEZ Issues Inaugural Sterling Green Bond, Attracting Strong Investor Demand

(IN BRIEF) SUEZ has successfully priced a 20-year inaugural sterling Green Bond following its previous bond issuances in euro. The issuance received substantial investor interest, with a total order book reaching £1.1 billion, nearly double the amount offered. The Green Bond serves several purposes, including refinancing part of the acquisition facility used for the acquisition of SUEZ recycling and recovery UK, diversifying the Group’s investor base, and extending the average debt maturity by 2 years to 8.5 years, thereby strengthening the Group’s financial structure. This move aligns with SUEZ’s commitment to sustainability and its 2023-2027 Sustainable Development Roadmap.

(PRESS RELEASE) PARIS, 3-Oct-2023 — /EuropaWire/ — Following its first two bond issuances denominated in euro in May 2022 and October 2022, SUEZ successfully priced a 20-year inaugural sterling Green Bond.

After a roadshow that gathered more than 60 investors, this new transaction received strong investor demand with a total order book that reached £1.1 bn, implying an oversubscription close to 2 times.

This issuance aims at:

• refinancing part of the €1.2 bn acquisition facility raised in December 2022 to complete the acquisition of SUEZ recycling and recovery UK ;
• diversifying the Group’s investor base ;
• strengthening further the Group’s financial structure by increasing its average debt maturity by 2 years to 8.5 years.

SUEZ long-term senior debt is rated Baa2 (stable outlook) by Moody’s.

HSBC, NatWest Markets, RBC Capital Markets and Santander acted as Joint Active Bookrunners. BBVA, BNP Paribas, Morgan Stanley and SMBC acted as Passive Bookrunners.

“Aligned with our 2023-2027 Sustainable Development Roadmap, the success of this new Green Bond issuance, SUEZ’s third one and first in sterling, highlights strong investors’ confidence in the Group, and SUEZ’s commitment to embedding sustainability into its financing plan.” Sabrina Soussan, Chairman and CEO of SUEZ

Media Contact:

suez.media@suez.com
+33 (0)6 32 18 39 54

SOURCE: SUEZ Group