The SUEZ group has placed a 500 million euros 10-year bond with a coupon of 4.50%.
With a 5.5 times oversubscription and an order book totalling 2.7 billion euros, this issuance has been a huge success. More than 200 investors have once again shown their confidence in SUEZ: the very strong demand allowed to tighten the credit margin by 40 bps compared with initial price indications.
The primary aim of this issuance is to partially refinance the 1.2 billion euros acquisition facility raised in December 2022 to complete the purchase of SUEZ Recycling and Recovery UK and IWS, specialized in hazardous waste management in France. It may also enable the financing of eligible projects as defined in the Group’s green bond Framework.
Including this latest issuance, the Group has placed a 5.5 billion euros green bond debt over the last two years.
SUEZ’s long-term senior debt is rated Baa2 (stable outlook) by Moody’s.
Crédit Agricole CIB, Mizuho, Natixis, Société Générale and UniCredit acted as Active Bookrunners in this operation. Mediobanca, ING and MUFG acted as Passive Bookrunners.
Sabrina Soussan, Chairman and CEO of SUEZ commented: “Once again, the exceptional success of this bond issuance demonstrates the confidence that investors have in SUEZ’ strategy and financial stability. It also confirms the Group’s remarkable commercial momentum over the past two years, both in France and internationally. Reflecting its ambition to become the trusted partner for circular solutions in water and waste, SUEZ reaffirms its commitment to sustainable financing.”.
