Veolia Environnement : successfully returns to the hybrid bond market
October 14, 2020 at 02:35 pm EDT
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Veolia's return to the hybrid bond market, which it had not tapped since 2013, has been welcomed by investors, and has enabled the Group to raise 2 billion euros at excellent conditions. The large success of the transaction was confirmed by a substantial order book of over 6 billion euros, coming from well diversified quality investors (over 500 orders coming from 3 continents).
The proceeds of this issuance will be used to refinance the purchase of 29.9 % stake in Suez from Engie that took place last week. The issuance is split into two tranches of deeply subordinated perpetual hybrid notes in euros:
850 million bearing a coupon of 2.25 % until its first reset date in April 2026,
1150 million bearing a coupon of 2.50 % until its first reset date in April 2029.
The strong commitment to the operation from investors once again proves the strong support of the market to Veolia's project of combining forces with Suez in order to create the World Champion of the Ecological Transformation.
Veolia group is the global leader in optimized resource management. With nearly 179,000 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 45 million megawatt hours of energy and treated 50 million metric tons of waste. Veolia Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of €27.189 billion in 2019 (USD 29.9 billion). www.veolia.com
Contacts
Veolia Group Media Relations
Laurent Obadia - Sandrine Guendoul
Tel.+ 33 6 25 09 14 25
[email protected]
Veolia Environnement SA published this content on 14 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 October 2020 18:34:05 UTC
Veolia Environnement is the world leader in environmental management services. Net sales break down by activity as follows:
- water-related services (40.6%; No. 1 worldwide): water resources management, drinking water distribution and delivery, wastewater collection, treatment and recovery, engineering, design, construction of water treatment facilities and customer relationship management, etc.;
- waste management services (32.4%; no. 1 worldwide): collection, treatment and recycling of liquid, solid, non-hazardous and hazardous waste, waste treatment and recovery through composting, energy recovery from waste, etc. Veolia Environnement also provides urban waste management services (maintenance and cleaning of public spaces, provision of mechanized street cleaning and façade treatment services), maintenance of industrial sites, and dismantling of industrial facilities and equipment at the end of their useful life;
- energy services (27%; No. 1 in Europe): delegated management of urban heating and air conditioning networks, management of thermal and multi-technique services (operation of heating systems, facility design, construction, and maintenance, etc.) and industrial services (industrial process analysis, production equipment operation, service, and maintenance), general management of buildings and public lighting.
Net sales are distributed geographically as follows: France (21.5%), Europe (41.9%), North America (7.4%), Asia (5.6%), Africa and the Middle East (4.9%), Pacific (4.3%), Latin America (4%) and other (10.4%).