EDF issues the largest ever green convertible bond - BNP Paribas CIB
 
Thursday 10 September 2020

BNP Paribas is sole structuring advisor for EDF's inaugural green convertible bond for €2.4 billion.


France's EDF SA, a key player in the energy transition and a global leader in low-carbon energy, has launched a landmark offering of four-year green bonds convertible into new shares and/or exchangeable for existing shares of EDF.

This is EDF's first convertible bond and the first "jumbo" green convertible bond ever issued, confirming the company's ambitions in and commitment to renewable energy. As a core component of its Cap 2030 strategy, in 2015 EDF had set itself the goal of doubling its net installed renewables capacity to more than 50GW by 2030.

The proceeds of this offering will be allocated to the financing and/or refinancing of new and/or existing eligible projects, as defined in EDF's Green Bond Framework. The company uses green bonds to finance the construction of new renewables generation capacity, to modernize existing hydropower generation facilities and to adapt existing hydropower assets to changing climate patterns.

BNP Paribas acted as sole structuring advisor and joint bookrunner on the issue, which is also the biggest non-mandatory convertible bond in the European market since 2003.

The convertible bond market is of increasing interest to issuers and investors alike, especially as it has resisted the Covid-19 crisis well. Issuance volumes in Europe have more than doubled since 2019.

EDF has also simultaneously raised €2.1 billion euros through two new tranches of euro-denominated hybrid notes, with BNP Paribas acting also as sole structuring advisor and joint bookrunner in these transactions.


5
6
5
6
 
 

Give us your feedback

Please validate CAPTCHA.

RELATED ARTICLES
schneider-electric-issues-first-sustainability-linked-convertible-bond

BNP Paribas is sole Structuring Advisor and sole Global Coordinator for the first ever convertible bond linked to sustainability objectives.

world-s-largest-social-bonds-support-eu-covid-19-response
The EU has issued €17bn in social bonds to help finance member states' programmes on employment support...
The EU has issued €17bn in social bonds to help finance member states' programmes on employment support in the midst of...
bnp-paribas-joint-bookrunner-for-daimler-s-first-green-bond
Germany's Daimler has issued a groundbreaking 10-year green bond to accelerate the clean transportation...
Germany's Daimler has issued a groundbreaking 10-year green bond to accelerate the clean transportation transition.
caf-launches-first-covid-19-response-bond-in-latin-america
In late May, Corporación Andina de Fomento, the Development Bank of Latin America,...
In late May, Corporación Andina de Fomento, the Development Bank of Latin America, issued its first Covid-19 Response Bond...
bnp-paribas-wins-12-categories-at-global-capital-bond-awards-2020
BNP Paribas wins 12 categories at Global Capital Bond Awards, including Most Impressive Bank for Corporate...
BNP Paribas wins 12 categories at Global Capital Bond Awards, including Most Impressive Bank for Corporate Bonds,...
close
{POPUP_CONTENT}