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1 July 2021
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Groupama announces the successful placement of its first subordinated green bonds for a principal amount of EUR 500 million issued under Groupama Group's newly established Green Bond Framework.
The net proceeds of the Notes will be exclusively used to finance or re-finance Eligible Green Projects as defined in Groupama Group’s Green Bond Framework: – Green Buildings, – Renewable Energy, – Clean Transportation, – Environmentally sustainable management of Living Natural Resources and Land Use, – Energy Efficiency.
Our aim is to contribute to a growing market of green bonds and stimulate the market for sustainable investments and financing. This issuance illustrates our ongoing contributions to the transition to a lower-carbon economy. Cyril RouxDeputy Chief Executive Officer of Groupama
Our aim is to contribute to a growing market of green bonds and stimulate the market for sustainable investments and financing. This issuance illustrates our ongoing contributions to the transition to a lower-carbon economy.
This inaugural issue of EUR 500 million subordinated green bonds, due in 2028 with an annual coupon of 0.75%, constitutes Tier 3 regulatory capital in accordance with Solvency 2 regulations. Investors showed significant interest in the new Notes, with the order book oversubscribed at almost 2 times.
The main terms of the Notes are as follows: Issuer: Groupama Assurances Mutuelles Expected rating of the notes: BBB by Fitch Issue amount: EUR500 million Pricing date: 30 June 2021 Settlement date: 7 July 2021 Maturity date: 7 July 2028 Annual coupon: 0.750 per cent 1st interest payment date: 7July 2022 ISIN: FR0014004EF7
Citi, Crédit Agricole CIB, HSBC, J.P. Morgan (Sole Structuring Advisor), Natixis and Société Générale acted as joint bookrunners on the transaction. The new notes will be admitted to trading on Euronext Paris.
All documents related to the operation are available on the group’s internet website.
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