TDC Net kicks off calls for €500 million sustainability-linked bonds

Chicago, April 22 – TDC Net A/S is holding fixed-income investor calls on Monday and Tuesday for a €500 million senior secured sustainability-linked bond offering (//BBB-), according to a market source.

The deal size will not change.

The coupon will be tied to two targets, the first linked to scope 1 and scope 2 emissions by 2028 from a 2020 baseline and the second for scope 3 emissions also by 2028 from a 2020 baseline.

The 5.25-year notes will be used to refinance existing debt.

A guarantee will come from TDC Net Holding A/S.

Barclays and BNP Paribas are working as joint global coordinators. ING is the sustainability structuring adviser. Those three banks are joined by Danske Bank as active bookrunners.

Barclays is coordinating logistics for the calls.

The issuer is a Copenhagen-based telecommunications infrastructure and services supplier.

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