By Wendy Van Sickle
Columbus, Ohio, March 31 – Sanofi SA priced €650 million of notes tied to its commitment to improve access to essential medicines in low- and lower-middle-income countries on Thursday, according to a news release.
The inaugural tranche of sustainability-linked bonds priced with a coupon of 1.25% and mature in April 2029. The coupon is linked to the achievement of a sustainability performance target of at least 1.5 million patients provided with essential medicines by the company’s global health unit for the treatment of non-communicable diseases in 40 of the world’s poorest countries between 2022 and 2026.
The company said its social impact strategy aims to build a healthier world by ensuring access to health care for the world’s poorest people and bringing a focus to the development of treatment for childhood cancer.
The company also priced €850 million of 0.875% notes due April 2025.
Morgan Stanley and Natixis CIB acted as global coordinators and sustainability-linked structuring advisers, and Barclays, MUFG and RBC acted as joint active bookrunners.
Proceeds of the bonds will be used for general corporate purposes.
Sanofi is a Paris-based pharmaceutical company.
| Issuer: | Sanofi SA
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| Amount: | €650 million
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| Issue: | Sustainability-linked notes
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| Maturity: | April 2029
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| Bookrunners: | Natixis, Barclays, MUFG and RBC
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| Sustainability structurers: | Morgan Stanley and Natixis CIB
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| Coupon: | 1.25%, linked to achievement of sustainability performance target of at least 1.5 million patients provided with essential medicines by company’s global health unit for treatment of non-communicable diseases in 40 of the world’s poorest countries between 2022 and 2026
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| Price: | 99.654
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| Trade date: | March 31
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