Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for EC Financing plc > News item |
Europcar to sell minimum €150 million 3% sustainability-linked mirror notes due October 2026
By Paul A. Harris
Portland, Ore., May 5 – Europcar Mobility Group plans to place a minimum of €150 million of notes mirroring the EC Financing plc 3% sustainability-linked senior notes due Oct. 15, 2026 (expected ratings B1/B), according to market sources.
The deal could upsize to €200 million, according to a company press release.
BNP Paribas is leading the offering.
The notes are non-callable before Oct. 15, 2023.
Sustainability targets include a reduction of the Europcar fleet's carbon emissions in order to achieve, on average, carbon emissions of 93g CO2/km for cars and 144g CO2/km for trucks by the end of 2024, and an increase in the proportion of green vehicles (emitting less than 50g CO2/km) to 20% of Europcar's total fleet by the end of 2024.
The Paris-based vehicle rental company plans to use the proceeds from the mirror notes plus available liquidity to finance its fleet of vehicles.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.