Engie Floats EUR 1.5 Billion Green Bond

French energy company Engie has issued its second Green Bond of EUR 1.5 billion to finance renewable energy projects as part of the company’s development strategy in renewable energies and energy efficiency.

The proceeds of the bond will be used to finance renewable energy projects such as wind and solar farms, hydroelectric plants, energy efficiency projects and natural resources preservation projects.

A bond tender offer for a total amount of EUR 700 million was launched simultaneously on seven outstanding bonds and will be closed on March 23, 2017. These two transactions will enable the group to reduce the average cost of its debt while at the same time extend its duration.

To be eligible, projects financed must meet a number of environmental and social criteria in eight areas: fight against climate change and the conservation of the natural resources, environmental management, biodiversity, dialogue with stakeholders, business ethics, human rights, responsible procurement, and health and safety.

Bond issue proceeds will be allocated according to a specific traceability procedure that will be verified by an external audit firm.

Engie issued its first, EUR 2.5 billion Green Bond, in May 2014.

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