Teréga

Sep 11, 2020

Successful launch of a bond issue of EUR 500 million

Teréga S.A. (rated Baa2 with stable outlook by Moody's), the operational company of Teréga group, French fully regulated utility, successfully launched on September 10th a bond issue with a 10-year maturity for a total amount of EUR 500 million.

The issuance was largely oversubscribed by high quality and geographically diversified institutional investors.

Dominique Mockly, Chairman of the Board of Directors and Chief Executive Officer of Teréga S.A., comments: "We are very pleased with this transaction - a new bond of EUR 500 million with a coupon of 0.875% - which will enable us to reduce significantly our average cost of debt at reimbursement at maturity of the existing EUR 500 million bond with a coupon of 4.339% and to streamline the maturity profile of the Group's debt to finance our future investments. Markets support our business model and strategy, based on the energy transition acceleration".