EDENRED: Edenred successfully placed its first sustainability-linked convertible bonds for a nominal amount of approximately €400 million
June 9, 2021
Edenred (Euronext Paris: FR0010908533) (the
Company ) has successfully placed today an inaugural sustainability-linked bonds convertible into and/or exchangeable for new and/or existing shares (
OCEANE ) due 2028 (the
Bonds ) for an aggregate nominal amount of approximately €400 million by way of a placement to qualified investors only
1 (the
Offering ). The Offering represents today 6,173,792 underlying shares.
The par value of the Bonds has been set at €64.79, corresponding to a premium of 37.5% above Edenred s reference share price
2 on the regulated market of Euronext in Paris (
Euronext Paris ).
June 9, 2021
Edenred (Euronext Paris : FR0010908533) (the “
Company”) has successfully placed today an inaugural sustainability-linked bonds convertible into and/or exchangeable for new and/or existing shares (“
OCEANE”) due 2028 (the “
Bonds”) for an aggregate nominal amount of approximately €400 million by way of a placement to qualified investors only
1 (the “
Offering”). The Offering represents today 6,173,792 underlying shares.
The par value of the Bonds has been set at €64.79, corresponding to a premium of 37.5% above Edenred’s reference share price
2 on the regulated market of Euronext in Paris (“
Euronext Paris”).
The Bonds will be issued on June 14, 2021 (the “
Issue Date”), being the expected settlement and delivery date of the Bonds. The Bonds will be issued at an issue price equal to 100.875% of par, which corresponds to a yield to maturity of -0.12% and will not bear interest.
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At Sappi, we are unlocking the power of renewable resources to meet the needs of the planet while seeding prosperity for all. Building a thriving, sustainable world is a moral and business imperative that affects every decision we make, including aligning our strategies, plans and activities to global initiatives, in particular the 2030 United Nations Sustainable Development Goals (SDG’s). Through our spirit of eco-effective ingenuity, we nurture the renewable resources that allow us to deliver on our promises and supply everyday products such as food packaging. Being environmental stewards and purveyors of sustainable business practices is core to who we are.
at least 64%
The Sustainability Performance Target Minimum Score Condition will be met if Edenred reaches at least 2 out of 3 of the above mentioned KPIs.
The Framework has been established in accordance with the Sustainability-Linked Bond Principles (SLBP) administered by ICMA and reviewed by Ethifinance who provided a Second Party Opinion (“
SPO”) on June 4, 2021. Both the Framework and the SPO are available on the Company’s website: (www.edenred.com).
Conversion/Exchange Right
Bondholders will be granted a conversion/exchange right of the Bonds into new and/or existing shares of the Company (the “
Conversion/Exchange Right”) which they may exercise at any time from the Issue Date and until the 7