French renewables outfit Voltalia has issued an inaugural €200m green senior unsecured bond, the proceeds of which will be used to finance new projects.
The company said the bond is convertible into new shares and/or exchangeable for existing shares of the company, due 2025.
The bond will have an interest at a rate of 1% from the issue date.
The nominal unit value of the bond has been set at €31.83, representing a premium of 37.5% above Voltalia’s reference share price
The net proceeds of the offering will be allocated to finance and/or refinance eligible green projects as defined by the Voltalia’s Green & Sustainability-linked Financing Framework.
Voltalia chief executive Sebastien Clerc said: “Our inaugural green convertible bond met with strong demand and the implementation of our innovative Green & Sustainability Financing framework is now fully validated by the financial community.
“I warmly thank investors for supporting Voltalia’s development but also for continuously raising the standard in terms of CSR expectations.
“They find concrete translation in Voltalia’s strategy and practices and I look forward to future discussions about our progresses in these fields.”
The settlement-deliveries of the bond and of the shares are expected to take place on 13 January.