By Rebecca Melvin
New York, Feb. 11 – Societe du Grand Paris priced €2.5 billion 1% green notes due 2070 at 96.695 to yield 1.086%, or a yield spread of 30 basis points over French Treasury obligations, according to a market source.
The pricing was tightened from initial talk in the OAT plus 33 bps area.
The order books were for more than €6 billion.
The Regulation S green notes were sold via bookrunners Barclays, BNP Paribas, Credit Agricole CIB, JPMorgan and Societe Generale.
Proceeds will be dedicated to finance the Grand Paris Express automatic metro project in compliance with the issuer’s green medium-term note program.
The issuer is a state-owned operator and developer of Paris’ metro infrastructure.
| Issuer: | Societe du Grand Paris
|
| Issue: | Senior green notes
|
| Amount: | €2.5 billion
|
| Maturity: | Feb. 18, 2070
|
| Bookrunners: | Barclays, BNP Paribas, Credit Agricole CIB, JPMorgan and Societe Generale
|
| Coupon: | 1%
|
| Price: | 96.695
|
| Yield: | 1.086%
|
| Spread: | OAT plus 30 bps
|
| Pricing date: | Feb. 11
|
| Settlement date: | Feb. 18
|
| Distribution: | Regulation S
|
| Talk: | OAT plus 33 bps area
|
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