ENGIE (EPA:ENGI) - ENGIE issues EUR 850 million of green hybrid bonds with record low coupon

Transparency directive : regulatory news

30/11/2020 08:15

Press release
30 November 2020

ENGIE issues EUR 850 million of green hybrid bonds with record low coupon

On Thursday 19 November 2020, ENGIE issued EUR 850 million of hybrid bonds in
green bond format. The securities have a coupon rate of 1.5% p. a., which is
the lowest level ever achieved by a company for a 8-year maturity.

The coupon for this issue has been set at 1.5% p. a. and the first non-call
period is set at 8 years. The new issue premium - at 0.25% below the secondary
market price - is also one of the lowest ever seen on the market.

ENGIE's credit quality, combined with the hybrid and green nature of the issue,
made it possible to reach an order book close to EUR 4 billion before guidance
revision, and to guarantee that the issue was oversubscribed (2.7x) at the
final price. The European Investment Bank ranks first among the investors.
Orders have come from BeNeLux (29%), France (17%), the United Kingdom & Ireland
(17%), southern Europe (16%) and Germany (15%). Approximately 80% of the book
was allocated to sustainable investors.

At the same time, ENGIE has launched a buyback offer for three of its existing
hybrid bonds. The offer, which closed on 25 November 2020, enabled ENGIE to
repurchase EUR 850 million of existing bonds, an amount equal to the amount of
the new issue. The transaction enables ENGIE to extend the maturity of its
hybrid debt by 1.1 years while reducing its recurring cost by 0.30% on an
unchanged outstanding basis.

Judith Hartmann, EVP, member of the collegiate management team and the Group's
Chief Financial Officer, said: "The success of this transaction, with its
historically low coupon, once again demonstrates investors' confidence in
ENGIE's signature and its strategic orientations. This transaction also
confirms ENGIE's role as a leader in green financing, helping to accelerate the
development of its sustainable projects."

The green financing framework that the Group has developed, and which applies
to this issue, has received a second party opinion from the agency Vigeo Eiris.
Both these documents are available in the fixed income section of ENGIE's
website.

With a total of EUR 12 billion issued in green format since 2014, ENGIE, as a
leader in the energy transition and the green bond market, continues its
commitment to reduce its emissions of greenhouse gases by following a
trajectory in line with the Paris Agreement, as certified by the Science Based
Targets initiative.

About ENGIE

Our group is a global reference in low-carbon energy and services. Our purpose
("raison d'être") is to act to accelerate the transition towards a
carbon-neutral world, through reduced energy consumption and more
environmentally friendly solutions, reconciling economic performance with a
positive impact on people and the planet. We use our expertise in our key
business areas (renewable energies, gas, services) to provide competitive and
bespoke solutions. With our 170,000 employees, our customers, partners and
stakeholders, we are a community of Imaginative Builders, committed every day
to more harmonious progress.
Turnover in 2019: EUR60.1 billion. The Group is listed on the Paris and
Brussels stock exchanges (ENGI) and is represented in the main financial
indices (CAC 40, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe)
and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris -
World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).

ENGIE HQ Press contact:
Tel. France: +33 (0)1 44 22 24 35
Email: ENGIEpress@ENGIE.com
ENGIEpress

Investor relations contact:
Tel. +33 (0)1 44 22 66 29
Email: ir@ENGIE.com

ENGIE Headquarters
Tower T1 - 1 place Samuel de Champlain - Faubourg de l'Arche -
92930 Paris La Défense cedex - France
ENGIE ? A PLC WITH CAPITAL OF 2,435,285,011 EUROS -
RCS NANTERRE 542 107 651 - Tel. +33 (0)1 44 22 00 00

engie.com

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