Veolia’s return to the hybrid bond market, which it had not tapped since 2013, has been welcomed by investors, and has enabled the Group to raise 2 billion euros at excellent conditions. The large success of the transaction was confirmed by a substantial order book of over 6 billion euros, coming from well diversified quality investors (over 500 orders coming from 3 continents).
The proceeds of this issuance will be used to refinance the purchase of 29.9 % stake in Suez from Engie that took place last week. The issuance is split into two tranches of deeply subordinated perpetual hybrid notes in euros:
- 850 million bearing a coupon of 2.25 % until its first reset date in April 2026,
- 1150 million bearing a coupon of 2.50 % until its first reset date in April 2029.
The strong commitment to the operation from investors once again proves the strong support of the market to Veolia’s project of combining forces with Suez in order to create the World Champion of the Ecological Transformation.
Veolia group is the global leader in optimized resource management. With nearly 179,000 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 45 million megawatt hours of energy and treated 50 million metric tons of waste. Veolia Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of €27.189 billion in 2019 (USD 29.9 billion). www.veolia.com
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