By William Gullotti
Buffalo, N.Y., March 31 – Societe du Grand Paris priced €1 billion of 3.7% green bonds due 2053 (Aa2//AA) on Wednesday, according to a term sheet.
Pricing came in at a spread of mid-OATs plus 52 basis points, on the tight side of initial talk in the mid-OATs plus 53 bps area.
With pricing at 99.434, the bonds yield 3.731%.
BofA (billing and delivery), BNP Paribas, Credit Agricole CIB and Nomura are the bookrunners.
Proceeds from the Regulation S issue will be used to finance and/or refinance investments in one or more eligible green projects.
Listing is expected on the Euronext Paris.
Societe du Grand Paris is a public establishment created by the state to build a new automatic metro system in Paris.
| Issuer: | Societe du Grand Paris
|
| Amount: | €1 billion
|
| Issue: | Green bonds
|
| Maturity: | May 25, 2053
|
| Bookrunners: | BofA (billing and delivery), BNP Paribas, Credit Agricole CIB and Nomura
|
| Coupon: | 3.7%
|
| Price: | 99.434
|
| Yield: | 3.731%
|
| Spread: | Mid-OATs plus 52 bps
|
| Pricing date: | March 29
|
| Settlement date: | April 5
|
| Ratings: | Moody’s: Aa2
|
| Fitch: AA
|
| Distribution: | Regulation S
|
| Price talk: | Mid-OATs plus 53 bps area
|
| ISIN: | FR001400H4K7
|
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