Veolia took advantage of a constructive market window to issue EUR 500 million bond with a January 2032 maturity. This bond bears a coupon of 0.80 % and was issued at par.
The oversubscription ratio was over 8, which enabled Veolia to materially improve the issuing rate and achieve a final pricing which was 10 basis point lower than the secondary market.
The high oversubscription rate, the quality of the investors in the order book, their good diversification (over 210 orders from Europe and Asia) and the good conditions which were achieved are signals of the significant appreciation of Veolia’s credit quality.
The proceeds of this issuance will be used for Corporate General Purposes, and in particular as an anticipation of the maturity of some bonds happening at the end of 2020 and early 2021.
Veolia group is the global leader in optimized resource management. With nearly 178 780 employees worldwide, the Group designs and provides water, waste and energy management solutions which contribute to the sustainable development of communities and industries. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and to replenish them. In 2019, the Veolia group supplied 98 million people with drinking water and 67 million people with wastewater service, produced nearly 41 million megawatt hours of energy and converted 50 million metric tons of waste into new materials and energy. Veolia Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of €27.19 billion in 2019 (USD 30 billion) . www.veolia.com
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