France's Engie Raises $2.5bn from Bonds
French energy firm Engie has issued a triple tranche senior bond worth €2.5bn ($2.7bn), it said on March 24.
The issue consists of €1bn in five-year notes with a 1.375% coupon rate, €750mn in eight-year green bonds with a 1.75% coupon and a further €750mn in 12-year green bonds with a 2.125% coupon. It was significantly oversubscribed, Engie said, with the total order book exceeding €9.5bn.
The banks leading the transaction were Bank of America, Citi, Commerzbank, HSBC, Mizuho, Natixis, Royal Bank of Canada and Societe Generale.
Engie said the issue strengthened its financial position further. The company had €16.4bn of liquidity, including €8.6bn of cash at the end of February. The issue brings the company's total outstanding green bonds to €11.5bn, making it the largest corporate issuer of green bonds.