By Lisa Kerner
Charlotte, N.C., Nov. 9 – Schneider Electric SA launched a €200 million 1.841% 10-year climate bond in October in partnership with AXA Investment Managers, Mirova and Neuflize OBC Investissements.
Proceeds will be used to finance low-carbon innovation programs.
The club deal targeted investors who are signatories to the Green Bond Principles or to the Global Investor Statement on Climate Change, according to a news release.
“This unprecedented bond issue, both in terms of targets and purpose, strengthens our strategy to offer innovative technologies to help our customers to reduce their CO2 emissions,” said chairman and chief executive officer Jean-Pascal Tricoire.
“This climate bond combines R&D, green technology and responsible investment,” he said.
Credit Agricole CIB and Natixis were joint managers.
Schneider Electric is an energy management company based in Rueil-Malmaison, France.
| Issuer: | Schneider Electric SA
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| Issue: | Climate bond
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| Amount: | €200 million
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| Coupon: | 1.841%
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| Maturity: | 10 years
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| Managers: | Credit Agricole CIB, Natixis
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