New York, Dec. 19 – Essonne priced a €40 million green bond with a coupon of 2.08%, becoming the first French department to do so.
Socially responsible investors accounted for the majority – 75% - of the financing, thanks, the department said, to the quality of the quality of the environmentally and socially beneficial projects which will be funded.
Proceeds will be used to finance six projects: transit lanes on the Saclay plateau, development of an intermodal bus-to-rail terminal at Juvisy-sur-Orge, extension and restructuring of the Charles Péguy college at Morsang-sur-Orge, the Val Vert city project for teaching about sustainable living and eco-friendly construction at Plessis-Pâté, the thermal and functional rehabilitation of the general counsel building at Courcouronnes, and construction of accommodation for elderly people at Ulis.
Vigeo rated the bond, placed in November, as green, giving it a score of 59 out of 100.
“We had three objectives,” said Jérôme Guedj, president of the general council of Essonne. “An innovative financing which aligns with our proactive policy of sustainable development. An attractive and secure financing thanks to a fixed rate of 2.08% representing a favorable borrowing cost. A realization of facilities of service to the population and to development.”
| Issuer: | Essonne
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| Issue: | Green bond
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| Amount: | €40 million
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| Coupon: | 2.08%
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| Pricing date: | November
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