Germany’s Sudzucker starts roadshow for debut sustainability bond

Chicago, Oct. 19 – Sudzucker International Finance BV is planning an inaugural sustainability-linked bond deal, according to a market source.

The bonds will be guaranteed by Sudzucker AG (Baa3/BBB-).

A roadshow starts Wednesday for the Regulation S deal, which is expected to be between €300 million and €500 million.

BNP Paribas, Deutsche Bank, DZ Bank AG, Landesbank Baden-Wurttemberg and UniCredit are the joint bookrunners. UniCredit is coordinating logistics.

Deutsche Bank is the ESG coordinator.

S&P Global Ratings delivered a second-party opinion.

In terms of the sustainable key performance indicators, they will be tied to greenhouse gas emissions reductions.

Proceeds will be used for general corporate purposes, including the refinancing of a €300 million bond maturing November 2023.

The Mannheim, Germany-based issuer is a provider of plant-based solutions for food, animal feed and energy industries. The company is the largest sugar producer in the world.

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