By Paul A. Harris
Portland, Ore., Sept. 26 – Getlink SE priced an upsized €550 million issue of five-year senior secured green notes (BB/BB+) at par to yield 3 5/8% on Wednesday, according to market sources.
The issue size was increased from €500 million.
The yield printed at the tight end of yield talk in the 3¾% area.
Joint global coordinator, joint bookrunner and green structuring adviser Goldman Sachs will bill and deliver. BNP Paribas is also a joint global coordinator, joint bookrunner and green structuring adviser. Deutsche Bank is a joint bookrunner.
Proceeds will be used to refinance the G2 bridge loan, to finance capital expenditures in relation to the ElecLink electricity interconnector between the United Kingdom and France and to finance other green-eligible assets.
Getlink is a Paris-based mobility infrastructure and international transport company. It is also the parent of Eurotunnel.
| Issuer: | Getlink SE
|
| Amount: | €550 million, increased from €500 million
|
| Maturity: | October 2023
|
| Securities: | Senior secured green bonds
|
| Joint global coordinators: | Goldman Sachs (bill and deliver) BNP Paribas
|
| Joint bookrunners: | Goldman Sachs, BNP Paribas, Deutsche Bank
|
| Green structuring advisors: | Goldman Sachs, BNP Paribas
|
| Coupon: | 3 5/8%
|
| Price: | Par
|
| Yield: | 3 5/8%
|
| Call protection: | Two years
|
| Trade date: | Sept. 26
|
| Settlement date: | Oct. 3
|
| Ratings: | S&P: BB
|
| Fitch: BB+
|
| Distribution: | Regulation S
|
| Price talk: | 3¾% area
|
| Marketing: | Roadshow
|
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