Nexans completes inaugural Sustainability-Linked Bond issuance
_PRESS RELEASE_
Paris, April 5th 2023 – Nexans announces today the successful issuance of its inaugural euro Sustainability-Linked Bond for an aggregate nominal amount of 400 million euros with a 5-year maturity and an annual interest rate of 5.50%.
The transaction had outstanding market reception and the size has been increased to 400 million euros from 325 million euros.
This transaction underlines Nexans’ solid balance sheet as illustrated by S&P’s decision to upgrade Nexans’ credit rating outlook from stable to positive and to confirm its ‘BB+’ rating in February 2023.
Nexans’ inaugural Sustainability-Linked Bond is aligned with Nexans’ Sustainable Financing Framework which is central to the Group’s refinancing strategy and is a step in further embedding sustainability as a core value of the Group.
The Bond is linked to Nexans’ climate commitments. The Group plans on (i) reducing its absolute Scopes 1 and 2 greenhouse gas emissions by -29.4% by December 31th, 2026 in line with SBTi targets, and (ii) reducing its “Cradle-to-shelf” Scope 3 greenhouse gas emissions, associated with carbon content of products, by -21.8 % by December 31th, 2026.
Jean Christophe Juillard, Deputy CEO and CFO of Nexans said: “The success of this offering has been extraordinary and confirms investor confidence in Nexans’ business model, strategy, and credit metrics improvements. It also underpins our commitment to achieving our climate goals while driving sustainable electrification globally thanks to our E3 operational model."
The Sustainability-Linked Bond prospectus is available on Nexans’ website https://www.nexans.com/en/finance/share_price/debt.html
About Nexans
For over a century, Nexans has played a crucial role in the electrification of the planet and is committed to electrifying the future. With around 28,000 people in 42 countries, the Group is leading the charge to the new world of electrification: safe, sustainable, renewable, decarbonized and accessible to everyone. In 2022, Nexans generated 6.7 billion euros in standard sales. The Group is a leader in the design and manufacturing of cable systems and services across five main business areas: Power Generation & Transmission, Distribution, Usages, Industry & Solutions and Telecom & Data. Nexans was the first company in its industry to create a Foundation supporting sustainable initiatives bringing access to energy to disadvantaged communities worldwide. The Group pledged to contribute to carbon neutrality by 2030.
Nexans. Electrify the future.
Nexans is listed on Euronext Paris, compartment A.
For more information, please visit www.nexans.com
Contacts:
| Communication Emmanuel Guinot emmanuel.guinot@nexans.com Maëllys Leostic Tél.: +33 (0)7 87 04 96 58 maellys.leostic@nexans.com | Investor relations Elodie Robbe-Mouillot Tél.: +33 (0)1 78 15 03 87 elodie.robbe-mouillot@nexans.com |
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