SNCF RESEAU (EPA:RFAD) - SNCF Réseau - Press release SNCF Réseau 100yr Green Bond

Transparency directive : regulatory news

13/08/2019 13:16

SNCF Réseau successfully issued the first-ever 100-year Green Bond

                   Press Release - Paris, 13th August 2019

SNCF Réseau, the French railway infrastructure manager, rated Aa2 (Moody's)
/AA (S&P)/ AA (Fitch), launched on the 14th of August the world's first ever
100-year Green Bond, all issuers combined (SSA, corporates, etc). This new bond
was issued for a total amount of 100 million euros with an all-time low coupon
of 1.425% considering the maturity.

Following the first 100-year bond executed back in 2015, this is the second
deal for SNCF Réseau on this maturity and the first in Green format. Prior to
this bond, the longest Green bonds have been issued by Energias de Portugal
(EDP) and Energie Baden-Wuerttemberg (EnBW) - 60-year Green Bond.

As part of SNCF Group reorganization provided by law in the June 2018 French
National Railways reform, this bond underscores investors'confidence given to
SNCF Group and SNCF Réseau Green Bond Programme strong recognition in the
capital markets since its launch in 2016.

Actually, with a total outstanding amount of EUR 5.4 Bn, SNCF Réseau Green
Bond Programme position is ranked 2nd among french market issuers and 7th
worldwide(1).

Furthermore, in 2019 alone, SNCF Réseau has already issued EUR 2.8 Bn putting
itself at the 3rd place in the world(2).

The assets financed thanks to this transaction will enable the financing of
"Eligible Green Projects", including : i) investments related to maintenance,
upgrades and energy efficiency of the rail system and, ii) investments related
to implementation of new rail lines and rail lines extensions.

HSBC acted as Sole Lead Manager on this transaction.

Terms and conditions

Issuer               SNCF Réseau
Rating               Aa2/AA/AA (Moody's / S&P / Fitch)
Amount               EUR 100 million
Launch date          5 August 2019
Settlement date      14 August 2019
Maturity date        14 August 2119
Coupon               1.425%, Fixed, Annual, ACT/ACT ICMA
Spread reoffer       FRTR 1.75% 05/66 + 65 bps
Reoffer price        100.000%
Reoffer yield        1.425%
Listing / Law        Euronext Paris / French law
Denominations        100K+100K
ISIN                 XS2039711929
Sole Lead Manager    HSBC

SNCF RESEAU CONTACTS

Audrey Breton - Press Contact, audrey.breton@reseau.sncf.fr
Nicolas Marchessaux - Head of Capital Markets & Derivatives,
+33 (0)1 45 19 28 54, nicolas.marchessaux@reseau.sncf.fr
Florian Morini - Investor Relations & Credit Analysis,
+33 (0)1 85 58 85 31, florian.morini@reseau.sncf.fr
sncf.reseau.investisseurs@reseau.sncf.fr

(1) Excluding sovereign States (France, Netherlands)
(2) Excluding sovereign States (France, Netherlands)

INTERNAL/INTERNE

SNCF RESEAU's latest news

13/08/2019 13:16

SNCF RESEAU (EPA:RFAD) - SNCF Réseau - Press release SNCF Réseau 100yr Green Bond

Transparency directive : regulatory news

SNCF RESEAU's latest news

Other stories