Voltalia’s €200 Million Green Bond Issue

Jones Day represented Voltalia on the deal, while White & Case advised BNP Paribas, Goldman Sachs and Natixis.

French renewable power producer Voltalia SA (EPA:VLTSA) has set an interest rate of 1.0% to its inaugural green bond launched earlier this week and targeting around EUR 200 million (USD 246.4m).

The green senior unsecured bonds, maturing on January 13, 2025, will be issued at par through an accelerated bookbuilding among qualified investors. Their nominal unit value has been set at EUR 31.83, equal to a premium of 37.5% above Voltalia’s reference share price, which was defined as the clearing price of the concurrent placement of existing shares.

The bonds will be convertible into new shares of the company or will be exchanged for existing shares.

Voltalia intends to allocate the net proceeds from the transaction to finance or refinance eligible green energy projects as part of its green and sustainability-linked financing framework. Among those is the construction of wind, solar, biomass, hydro or hybrid power plants and energy storage facilities, as well as acquisitions of renewables-focused companies.

The Jones Day team included Florent Bouyer (Picture), Guillaume Monnier, Qian Hu, Alexandre Cheriet.

The White & Case team included Séverin Robillard, Thomas Le Vert, Petya Georgieva, Thierry Nkiliyehe, Grégoire Karila, Alexandre Ippolito and Sarah Kouchad.

Involved fees earner: Florent Bouyer – Jones Day; Alexandre Cheriet – Jones Day; Qian Hu – Jones Day; Guillaume Monnier – Jones Day; Petya Georgieva – White & Case; Alexandre Ippolito – White & Case; Grégoire Karila – White & Case; Sarah Kouchad – White & Case; Thomas Le Vert – White & Case; Thierry Nkiliyehe – White & Case; Séverin Robillard – White & Case;

Law Firms: Jones Day; White & Case;

Clients: BNP Paribas; Goldman Sachs; Natixis; Voltalia SA;