TDC Net wraps calls, may price sustainability bonds on Wednesday

Chicago, April 23 – TDC Net A/S wrapped investor calls on Tuesday and expects to be in the market soon, as early as Wednesday, a market source reported.

The company is offering €500 million of senior secured sustainability-linked bonds (//BBB-).

The deal size is set. The company is still planning a tenor of 5.25 years.

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.

Proceeds will be used to refinance existing debt.

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.

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

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

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