S&P rates Societe Generale green bond A

S&P said it assigned its A issue rating to Societe Generale's first digital bond.

The €10 million euro-denominated, three-year, senior preferred, green positive impact bond carries a coupon set at 4.015% per year.

“We believe that the inherent novel risks of the new digital bond, while present, should be manageable for Societe Generale (A/stable/A-1) and not affect investors. In particular, we have confidence in the timely payment of principal and interest, even in case of unforeseen events that affect the functioning of the digital platform. French law, which was comprehensively amended to explicitly recognize and provide a level playing field for digital securities, is a further supporting factor,” S&P said in a press release.

© 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.