Chicago, Nov. 30 – Reseau de Transport d'Electricite (RTE) priced €500 million of 3.5% eight-year green bonds (A) on Thursday, according to information from a market source.
The bonds priced at 99.883 to yield 3.517%, or at mid-swaps plus 58 basis points.
Price talk started in the mid-swaps plus 95 bps area. It was revised to the mid-swaps plus 65 bps area when the order book went over €2.7 billion. The size was set before pricing at €500 million.
The bonds are callable early with a Bunds plus 20 bps make-whole premium until the three-month par call option.
Barclays (billing and delivery), BNP Paribas, CIC, Credit Agricole CIB, Natixis, NatWest Markets, SMBC and Societe Generale were the bookrunners.
Proceeds will be allocated to finance or refinance eligible green projects.
The issuer is the Paris-based electricity transmission system operator of France.
| Issuer: | Reseau de Transport d'Electricite
|
| Amount: | €500 million
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| Issue: | Senior green notes
|
| Maturity: | Dec. 7, 2031
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| Bookrunners: | Barclays (billing and delivery), BNP Paribas, CIC, Credit Agricole CIB, Natixis, NatWest Markets, SMBC and Societe Generale
|
| Coupon: | 3.5%
|
| Price: | 99.883
|
| Yield: | 3.517%
|
| Spread: | Mid-swaps plus 58 bps, or Bunds plus 114.8 bps
|
| Call features: | Make-whole call at Bunds plus 20 bps; three-month par call
|
| Trade date: | Nov. 30
|
| Settlement date: | Dec. 7
|
| Rating: | S&P: A
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 95 bps area
|
| ISIN: | FR001400MIG4
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