Air Liquide launches first green bond issue raising €500m
Air Liquide has launched its first green bond issue, by raising €500 million dedicated to financing and refinancing the development of sustainable projects, including biogas, hydrogen, and oxygen.
This operation is in line with the company’s first SRI-labelled bonds, which the firm had issued as early as 2012 to finance the expansion of its Home Healthcare business. This new bond issue will contribute to the financing of the company’s projects announced on 23 March, including potentially capturing CO2, boosting hydrogen production through electrolysis, and utilising biomethane.
The transaction, which Air Liquide said was significantly oversubscribed by investors, was executed under the group’s Euro Medium Term Note programme. With this issuance, Air Liquide is raising €500 million with a 10-year maturity at a yield of 0.461%. Proceeds from this issuance will allow the company to refinance its September bond maturities in advance and will secure sustainable financing to support its long-term growth.
Fabienne Lecorvaisier, executive vice-president of finance and operations control, said: “The success of this inaugural green bond issuance illustrates the investors’ confidence in Air Liquide’s ability to implement projects that will contribute to building a sustainable future.
“It is in line with the ambitious sustainable projects we announced in March, particularly in terms of reducing CO2 emissions, and will allow us to materialise them.
“With the ambition of becoming a regular issuer of sustainable bonds, Air Liquide is more than ever committed to putting economic and financial performance and ESG at the heart of its growth strategy.”
This operation is in line with the company’s first SRI-labelled bonds, which the firm had issued as early as 2012 to finance the expansion of its Home Healthcare business. This new bond issue will contribute to the financing of the company’s projects announced on 23 March, including potentially capturing CO2, boosting hydrogen production through electrolysis, and utilising biomethane.
The transaction, which Air Liquide said was significantly oversubscribed by investors, was executed under the group’s Euro Medium Term Note programme. With this issuance, Air Liquide is raising €500 million with a 10-year maturity at a yield of 0.461%. Proceeds from this issuance will allow the company to refinance its September bond maturities in advance and will secure sustainable financing to support its long-term growth.
Fabienne Lecorvaisier, executive vice-president of finance and operations control, said: “The success of this inaugural green bond issuance illustrates the investors’ confidence in Air Liquide’s ability to implement projects that will contribute to building a sustainable future.
“It is in line with the ambitious sustainable projects we announced in March, particularly in terms of reducing CO2 emissions, and will allow us to materialise them.
“With the ambition of becoming a regular issuer of sustainable bonds, Air Liquide is more than ever committed to putting economic and financial performance and ESG at the heart of its growth strategy.”
