ACEA, following the resolution of the Company’s Board of Directors of 13 January 2023 and the completion of the bookbuilding activity, has successfully completed the placement of the issue of a Green Bond for a total amount of Euro 500 million, interest rate 3.875 %, expiring on 24 January 2031. This is what ACEA announced in a press release.
“The issue, which falls within the scope of the Green Financing Framework and under the Euro Medium Term Notes (EMTN) program of Euro 5 billion, pursuant to the Base Prospectus supplemented on 13 January 2023, has been very successful, receiving requests final equal to approximately 3 times the amount offered by investors of primary rank and representative of numerous geographical areas, mainly in the green sector”.
“Proceeds will be used to finance specific projects pursuing sustainability objectives. In particular, those relating to the resilience of the distribution network
electricity, energy efficiency, electric mobility, the development of the circular economy, the increase in the production of energy from renewable sources and the protection of water resources”.
Acea specified that “the issue is intended exclusively for institutional investors on the Euromarket. The Bond has a minimum denomination of Euro 100,000 and was placed at an issue price of 99.662%, which implies a yield of 3.925%. The Bond is governed by English law. The settlement date has been set for 24 January 2023. From that date, the Bond will be listed on the regulated market of the Luxembourg Stock Exchange”.
Acea continues: “The placement operation was managed by Bank of America, Goldman Sachs, Intesa SanPaolo IMI, JP Morgan, UniCredit as Joint Lead Manager. The agencies Fitch Ratings and Moody’s Investors Service are expected to assign a rating of BBB+ and Baa2 to the Bond, respectively”.