By Abigail W. Adams
Portland, Me., Jan. 6 – Voltalia priced €200 million four-year green bonds in the Oceanes structure on Wednesday at par at the midpoint of talk with a coupon of 1% and an initial conversion premium of 37.5%, according to a company news release.
Price talk was for a coupon of 0.75% to 1.25% and an initial conversion premium of 35% to 40%.
The offering was marketed to qualified institutional buyers in accordance with the French monetary code.
The notes are non-callable until Feb. 5, 2024 and then subject to a 130% hurdle.
They are putable upon a fundamental change.
Proceeds will be used to finance eligible green projects.
Voltalia is a Paris-based renewable energy utility company.
| Issuer: | Voltalia
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| Securities: | Oceanes
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| Amount: | €200 million
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| Maturity: | Jan. 13, 2025
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| Coupon: | 1%
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| Price: | Par
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| Yield: | 1%
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| Conversion premium: | 37.5%
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| Conversion price: | €31.83
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| Conversion rate: | 1
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| Call options: | Non-callable until Feb. 5, 2024 and then subject to a 130% hurdle
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| Put options: | Upon a fundamental change
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| Pricing date: | Jan. 6
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| Settlement date: | Jan. 13
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| Distribution: | French monetary code
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| Talk: | Coupon of 0.75% to 1.25% and initial conversion premium of 35% to 40%
|
| Stock symbol: | EPA: VLTSA
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| Market capitalization: | €2.37 billion
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