By Rebecca Melvin
New York, March 24 – Tikehau Capital SCA priced €500 million of 1.625% eight-year sustainability bonds on Wednesday, according to a market source.
The transaction, which marked the company’s inaugural sustainable bond, was reoffered at 99.643 for a yield of 1.673%, or mid-swaps plus 180 basis points.
Pricing was at the tight end of guidance of mid-swaps plus 180 bps to 185 bps and below initial price thoughts in the mid-swaps plus 200 bps area.
Credit Agricole CIB was the sustainable bond structurer and global coordinator of the Regulation S issue. Goldman Sachs Bank Europe SE and Societe Generale were also global coordinators and bookrunners. Joining them as active bookrunners were BNP Paribas, IMI-Intesa Sanpaolo, RBC Capital Markets and UniCredit.
The asset management and investment company is based in France.
| Issuer: | Tikehau Capital SCA
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| Amount: | €500 million
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| Maturity: | March 31, 2029
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| Securities: | Senior sustainable bonds
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| Bookrunners: | Credit Agricole CIB, Goldman Sachs Bank Europe SE, Societe Generale, BNP Paribas, IMI-Intesa Sanpaolo, RBC Capital Markets and UniCredit
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| Coupon: | 1.625%
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| Price: | 99.643
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| Yield: | 1.673%
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| Spread: | Mid-swaps plus 180 bps
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| Pricing date: | March 24
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| Settlement date: | March 31
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| Distribution: | Regulation S
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| Price talk: | Guided to mid-swaps plus 180-185 bps, from initial talk in mid-swaps plus 200 bps area
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