Gasunie’s €300 Million Inaugural Sustainability-Linked Bond

De Brauw advised Gasunie on the deal.

N.V. Nederlandse Gasunie has successfully issued its inaugural Sustainability-Linked Bond (SLB). The issue amounts to EUR 300 million with a tenor of 15 years, maturing on 13 October 2036. Gasunie is the first company in the European gas transmission sector to issue a SLB. The bond was issued in accordance with Gasunie’s recently published Sustainability-Linked Bond Framework, which follows the ICMA Sustainability-Linked Bonds Principles. The adoption of this framework is part of Gasunie’s efforts to broaden its ESG financing sources.

Gasunie incorporated this framework into the Euro Medium Term Note programme in the form of two ambitious ESG targets. This first-of-a-kind issuance for Gasunie underlines the broader market trend of an increased focus on the ESG aspects of financing arrangements. Next to the rise of sustainability-linked financing arrangements (in which the ESG performance is linked to certain financial consequences), there is also a lot of activity in the green bond market, where the proceeds are used for certain eligible green projects.

The De Brauw team included Maarten van der Weijden (Picture), Menno Stoffer, Niek Biegman, Bas Boutellier, Dana Horvath, Thomas Ticheloven, Dennis de Feij.

Involved fees earner: Niek Biegman – De Brauw Blackstone Westbroek; Bas Boutellier – De Brauw Blackstone Westbroek; Dennis de Feij – De Brauw Blackstone Westbroek; Dana Horvath – De Brauw Blackstone Westbroek; Menno Stoffer – De Brauw Blackstone Westbroek; Thomas Ticheloven – De Brauw Blackstone Westbroek; Maarten van der Weijden – De Brauw Blackstone Westbroek;

Law Firms: De Brauw Blackstone Westbroek;

Clients: Gasunie Transport Services B.V.;

Author: Naoual Sadouqi