Pontpierre, France, May 1, 2024 –
FDE (Euronext: FDE – ISIN: FR0013030152), producer of energy with a negative carbon footprint, is proud to announce the issuance of a third green bond to finance the development of its low-carbon energy portfolio in Norway and in Europe. Following the success of its previous bond issues, the financing was provided by its long-term partner, Edmond de Rothschild Asset Management (EDRAM), a leading energy and infrastructure investment fund.
Significant funding to support the deployment of new production sites in Europe
This green bond will finance the Group’s portfolio of existing energy solutions, and more specifically its deployment of cogeneration and solar parks in France and Belgium, as well as its promising Bio-LNG and Bio-CO projects.
2
in France and Norway.
The funding amounts to
60 million euros
in
three equal tranches of 20 million euros
each, whose
first tranche will be drawn by December 31, 2024
. This issue is notably subscribed by BRIDGE, the infrastructure debt platform of EDRAM, a historic partner of FDE. This financing is qualified as a “green bond” and the issue has been assessed in accordance with the principles applicable to Green Bonds of the ICMA (International Capital Market Association) via an opinion from EthiFinance, a recognized independent expert.
Thanks to FDE’s excellent existing generation of cash flows, the solidity of its balance sheet and the robustness of the economic model of the various projects qualifying for this green bond, this debt instrument is classified as
Investment Grade
and thus benefits from
attractive rates
over the financing period of 7 years.
FDE thus has the financial resources necessary to support and accelerate its development strategy and achieve all of its objectives for the 2026 financial year and the longer-term objectives which will be announced during the Investor Day on May 30, 2024.
A growth plan that accelerates from the second half of 2024
FDE continues its organic growth with the implementation in the coming months of
four additional cogenerations
in Hauts-de-France, and is continuing its photovoltaic development in France and Norway, in order to quickly achieve its objective of
100 MW installed capacity.
FDE also continues its development in Norway with the launch of three production projects of
Bio-LNG and CO
2
biogenic
for which the Group is awaiting the level of financial support that will be granted by the Norwegian ecological transition agency, while at the same time advancing the implementation of the important
20 MW green hydrogen production site in Agder
in Norway, dedicated to the maritime industry.
The completion of these main projects will strongly contribute to making FDE a leading independent European operator dedicated to carbon neutrality.
A long-term partnership dedicated to the development of low-carbon energy production
”
The placement of this new green bond demonstrates the confidence that Edmond de Rothschild Asset Management places in FDE and its ability to achieve growth and profitability objectives in the medium and long term. This transaction will allow the Group to finance all of its current and future low-carbon projects in Norway and Europe and should facilitate the deployment of new energy production sites. We are extremely proud of the success of the long-term collaboration that we have developed with Edmond de Rothschild Asset Management and thank them for their continued support
“, welcomes Julien Moulin, President of FDE.
Jean-Francis Dusch, Managing Director of EDRAM UK, Chief Investment Officer of BRIDGE and Global Head of Infrastructure, Real Assets & Structured Finance explains: ”
EDRAM is very proud to renew its support for FDE, an emerging leader in low-carbon energy solutions in Europe. This support is a new illustration of BRIDGE’s commitment to tangible and lasting solutions with positive impacts for the energy transition.
“.
LPA-CGR acts as Legal Advisor to FDE, and BENTAM as Legal Advisor to EDRAM.
FDE confirms its objectives for the 2026 financial year, of an annualized turnover of more than 100 million euros, an EBITDA of more than 50 million euros, with more than 10 million tonnes of CO2eq emissions avoided by year.
Next appointment:
Investor Day, May 30, 2024 at 2:30 p.m.
Annual turnover 2024, July 23, 2024
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