PARIS--(BUSINESS WIRE)--Regulatory News:
In a context where financial markets (and especially credit markets) experience high volatility, Veolia (Paris:VIE) took advantage of a constructive market window to issue EUR 700 million bond with a April 2028 maturity. This bond bears a coupon of 1.25 % and was issued at par.
The transaction quickly generated strong interest from the investor base and the size of the orderbook grew up to EUR 5.8 billion, which enabled Veolia to materially improve the issuing rate and achieve a final pricing which was very close to the secondary market.
The high oversubscription rate, the quality of the investors in the order book, their good diversification (over 240 orders from Europe and Asia) and the good conditions which were achieved are signals of the significant appreciation of Veolia’s credit quality. This transaction demonstrates Veolia’s ability to tap the financial markets with very good and to strengthen its liquidity, even in times of increased volatility and uncertainty about global economy.
The proceeds of this issuance will be used for Corporate General Purposes, and in particular as an anticipation of the maturity of some bonds happening at the end of 2020.
Veolia group is the global leader in optimized resource management. With nearly 178 780 employees worldwide, the Group designs and provides water, waste and energy management solutions which contribute to the sustainable development of communities and industries. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and to replenish them.
In 2019, the Veolia group supplied 98 million people with drinking water and 67 million people with wastewater service, produced nearly 41 million megawatt hours of energy and converted 50 million metric tons of waste into new materials and energy. Veolia Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of €27.19 billion in 2019 (USD 30 billion). www.veolia.com