Legrand to host investor calls for sustainability-linked bond

Chicago, May 22 – Legrand, SA will be hosting investor calls for a new euro-denominated sustainability-linked bond offering (A-), according to a source.

The coupon will be linked the achievement of certain sustainability performance targets.

There will be potential step-ups based on Legrand’s carbon footprint, specifically related to scope 3 emissions as measured in 2030 compared to a 2019 baseline. Legrand will be working to engage 250 key suppliers on targets related to the indirect CO2 emissions target.

There is a second key performance indicator related to the promotion of diversity and inclusion. By a target observation date, Legrand expects to fill 30% of its managerial positions with women, compared with 26.7% as of Dec. 31, 2021.

Credit Agricole CIB and Goldman Sachs Bank Europe SE will work as joint global coordinators and ESG structuring agents.

Societe Generale has been named a joint global coordinator.

BNP Paribas, CIC and HSBC are working joint active bookrunners.

Investor calls were held on Monday.

A Regulation S deal is expected to follow.

Proceeds will be used for general corporate purposes.

Limoges, France-based Legrand specializes in electrical and digital building infrastructure.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.