Feb 25, 2020

Successful launch of a bond issue for a total amount of €400 million

Teréga S.A.S. (rated Baa3 with stable outlook by Moody's), the holding company of French fully regulated utility Teréga SA (rated Baa2 with stable outlook by Moody's) successfully launched on February 20 a fixed-rate bond issue with an 8-year maturity for a total amount of EUR 400 million which was approved by the Board of Directors on January 30, 2020.

The issuance was approximately 10 times oversubscribed by high quality and geographically diversified institutional investors.

Dominique Mockly, CEO of Teréga S.A.S., comments: "We are pleased with this very successful transaction - a new bond with a coupon of 0.625% - which will enable us to reduce our cost of debt. It is also a clear sign that the market supports our investment case and strategy, based on accelerating the energy transition".

The bonds will be listed on Euronext Paris.

The Joint Bookrunners of the placement, reserved for institutional investors, were BNP Paribas, 

Crédit Agricole CIB, Natixis, Société Générale Corporate and Investment Banking and UniCredit.

The characteristics are as follows:

Issuer : Teréga S.A.S. ISIN : FR0013486834 Amount : EUR 400 millionMaturity : February 27, 2028Annual coupon of 0.625%. Issue Price : 99.349% (equivalent to a spread of 90 basis points over the benchmark mid-swap rate).