Verallia Announces a Successful New Bond Issuance of €600,000,000
PARIS–(BUSINESS WIRE)–Regulatory News:
Verallia (Paris:VRLA) announces today that it successfully priced new Euro senior unsecured bonds for a total amount of €600,000,000 with an 8-year maturity and an annual coupon of 3.875%. These new bonds are expected to be rated BBB- by S&P in line with Verallia’s long term credit ratings Baa3/BBB- outlook stable at Moody’s/S&P.
This transaction is the first public bond issuance by Verallia since the Investment Grade rating category by both Moody’s and S&P. The transaction is the result of a successful marketing exercise with capital market investors in a conducive market environment. Oversubscription level reached over 3x with more than 120 investors involved confirming the confidence in Verallia’s credit profile.
Patrice Lucas, Chief Executive Officer: “We are very pleased with this success. This important operation allows us to further diversify our sources of funding and to lengthen Verallia’s maturity debt profile. Investors’ support on this transaction reflects the confidence in Verallia’s strategy”.
The net proceeds of the transaction will be used mainly to refinance part of the existing financial indebtedness of the Group and for general corporate purposes.
BNP Paribas, Crédit Agricole Corporate and Investment Bank and Crédit Industriel et Commercial S.A. acted as Joint Global Coordinators on the bond issuance. Banco Bilbao Vizcaya Argentaria S.A., Banco Santander, S.A. Commerzbank Aktiengesellschaft, Coöperatieve Rabobank U.A., Intesa SanPaolo S.p.A., Natixis and Société Générale acted as joint bookrunners.
About Verallia
At Verallia, our purpose is to re-imagine glass for a sustainable future. We want to redefine how glass is produced, reused and recycled, to make it the world’s most sustainable packaging material. We work together with our customers, suppliers and other partners across the value chain to develop new, beneficial and sustainable solutions for all.
With almost 11,000 employees and 35 glass production facilities in 12 countries, we are the European leader and world’s third-largest producer of glass packaging for beverages and food products. We offer innovative, customised and environmentally friendly solutions to over 10,000 businesses worldwide. Verallia produced more than 16 billion glass bottles and jars and recorded revenue of €3.9 billion in 2023.
Verallia’s CSR strategy has been awarded the Ecovadis Platinum Medal, placing the Group in the top 1% of companies assessed by Ecovadis. Our CO2 emissions reduction target of -46% on scopes 1 and 2 between 2019 and 2030 has been validated by SBTI (Science Based Targets Initiative). It is in line with the trajectory of limiting global warming to 1.5° C set by the Paris Agreement.
Verallia is listed on compartment A of the regulated market of Euronext Paris (Ticker: VRLA – ISIN: FR0013447729) and trades on the following indices: CAC SBT 1.5°, STOXX600, SBF 120, CAC Mid 60, CAC Mid & Small and CAC All-Tradable.
Disclaimer
Certain information included in this press release is not historical data but forward-looking statements. These forward-looking statements are based on estimates, forecasts and assumptions including, but not limited to, assumptions about Verallia’s present and future strategy and the economic environment in which Verallia operates. They involve known and unknown risks, uncertainties and other factors, which may cause Verallia’s actual results and performance to differ materially from those expressed or implied in such forward-looking statements. These risks and uncertainties include those detailed and identified in Chapter 4 “Risk Factors” of the universal registration document filed with the Autorité des marchés financiers (“AMF”) and available on the Company’s website (www.verallia.com) and that of the AMF (www.amf-france.org). These forward-looking statements and information are not guarantees of future performance. This press release includes summarized information only and does not purport to be exhaustive.
This press release does not contain or constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, the United States or any other jurisdiction.
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