Global law firm White & Case LLP has advised a banking syndicate led by BNP Paribas, Goldman Sachs and Natixis on Voltalia's issue of Green bonds convertible into new shares and/or exchangeable for existing shares (OCEANE) for a nominal amount of €200 million.
Proceeds of the convertible bonds will be allocated to finance or refinance Eligible Green Projects as defined by the Green & Sustainability-linked Financing Framework published by Voltalia and released on January 4, 2021.
The nominal unit value of the bonds has been set at €31.83, corresponding to a premium of 37.5 percent above the reference share price.
The bonds were issued at par and will bear interest of 1.0% from the issue date, January 13, 2021. They were offered by way of a private placement to institutional investors and are admitted to trading on the Euronext Access market of Euronext Paris.
Alongside the issue, Voltalia Investissement, the reference shareholder of Voltalia, has provided a stock loan facility for certain subscribers of the bonds to set up a hedging strategy.
The White & Case team in Paris which advised on the transaction was led by partners Séverin Robillard and Thomas Le Vert and included partners Grégoire Karila and Alexandre Ippolito, with support from associates Petya Georgieva, Thierry Nkiliyehe and Sarah Kouchad.
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