French energy company Engie has issued a €1.5bn green bond to finance renewables projects.
The bond comprises a €700m seven-year tranche with a 0.875% annual coupon and an €800m 11-year tranche that pays 1.5% annually, Engie said.
The proceeds of the company’s second green bond will be used to finance renewable energy projects such as wind farms, solar parks, hydroelectric plants, energy efficiency developments and natural resources preservation schemes.
Eligible projects will have to meet several environmental and social criteria, it said.
Engie has simultaneously launched a €700m so-called tender offer on seven of its outstanding bonds.
The two transactions will allow it to reduce the average cost of its debt while extending its duration.
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Engie issues €1.5bn green bond
Proceeds will be used to finance renewable energy, efficiency projects
By EBS