(Boursier.com) — The public establishment Caisse des Dépôts, rated Aa2 (Moody’s) / AA (S&P) / AA (Fitch), has successfully launched a new Sustainable Bond in the amount of 500 million euros and a maturity of 5 years. For Caisse des Dépôts, this is the 5th ESG bond issued since 2017 and whose order book has brought together many investors: 40 in total.
This new benchmark bond was issued at a spread of +57 basis points above interpolated French government bonds, corresponding to a spread of -13 basis points against swap. The lead managers of this operation are Crédit Agricole CIB, JP Morgan SE, La Banque Postale, Natixis, Natwest Markets NV and Société Générale.
This transaction represents Caisse des Dépôts’ fifth ESG issue, following an inaugural green bond in 2017, an inaugural sustainable bond in 2019, a sustainable bond in 2020 and a sustainable bond in 2021.
This new 5-year sustainable bond allows Caisse des Dépôts to strengthen its presence on the capital markets by adding a new benchmark to its curve, while consolidating its ESG ambition, which remains at the heart of the Group’s overall strategy.
Launched following the publication in April 2022 of the update of Caisse des Dépôts’ reference framework for green, social and sustainable emissions, this sustainable issue is consistent with the delegated act on climate taxonomy of the EU, as well as with the United Nations Sustainable Development Goals by contributing to a just and inclusive transition towards carbon neutrality and the fight against societal inequalities. 64% of the selected projects thus take into consideration the technical screening criteria of the European taxonomy for the objective of mitigating climate change.
The funds raised through this operation will make it possible to finance green (?76%) and social (?24%) projects, in fundamental sectors, such as green real estate, renewable energies, transport and sustainable mobility, l digital access, food transition, depollution and rehabilitation of sites, support for aging and access to training.
In line with the transparency and exemplarity commitments it has set itself in its new reference framework, Caisse des Dépôts has chosen to provide an additional degree of readability by providing investors with an exhaustive list of the projects by name. eligible upstream of the execution of the bond transaction.
The public institution will publish three reports annually:
(i) an assurance notice of proper flow allocation;
(ii) a certificate of project compliance with the eligibility criteria;
(iii) the environmental and social performance and impact indicators relating to the projects