Chicago, Jan. 6 – RTE priced a debut green bond issue in an upsized deal for €850 million of 0.75% senior notes due 2034 (A), which priced at 98.886 to yield 0.848%, according to a market source.
The spread on the notes was mid-swaps plus 43 basis points, alternatively Bunds plus 97.7 bps. The notes had guidance at mid-swaps plus 45 bps to 50 bps.
The deal size started at €750 million.
The notes have a three-month par call.
BNP Paribas, Credit Agricole CIB, Credit Industriel et Commercial, Citigroup, MUFG and Natixis are the joint bookrunners for the Regulation S notes.
Credit Agricole CIB was handling billing and delivery and was the green structuring adviser.
Proceeds will be used for financing or refinancing, in whole or in part, green eligible projects as defined in the issuer’s green financing framework.
RTE is an electric grid operator based in Paris.
| Issuer: | RTE
|
| Amount: | €850 million
|
| Issue: | Green bonds
|
| Maturity: | Jan. 12, 2034
|
| Bookrunners: | BNP Paribas, Credit Agricole CIB, Credit Industriel et Commercial, Citigroup, MUFG and Natixis
|
| Green adviser: | Credit Agricole CIB
|
| Coupon: | 0.75%
|
| Price: | 98.886
|
| Yield: | 0.848%
|
| Spread: | Mid-swaps plus 43 bps
|
| Call features: | Three-month par call
|
| Trade date: | Jan. 6
|
| Settlement date: | Jan. 12
|
| Rating: | S&P: A
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 45 bps to 50 bps
|
| ISIN: | FR0014007LP4
|
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