Alstom Raises €700M Through Its First Hybrid Green Bond with a 5.25% Coupon
On Tuesday, Alstom completed its first issuance of hybrid European green bonds for €700M, marking a step in the financing of its ecological transition. This operation is part of the EMTN program of €1.5 billion published on June 3, 2026, by the AMF.
The group issued perpetual super-subordinated bonds with a fixed coupon of 5.25% per annum for the first 5.25 years, with the rate being reset every five years thereafter. Moody's rating assigns these securities a 50% equity content and a Ba2 rating, two notches below the group's long-term Baa3 rating. The operation experienced high demand, leading to multiple oversubscriptions and expanding Alstom's investor base across different geographical areas.
Allocation to Green Assets and Expenditures
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The entire €700M raised will be allocated to the financing and refinancing of assets and expenditures detailed in the European Green Bonds Fact Sheet, a document reviewed by Moody's and available on Alstom's website. This direction confirms the group's commitment to accelerating the transition to low-carbon mobility. A previous loan of €700M maturing in October 2026 is expected to be repaid at maturity.
Preserving the Investment Grade Rating
Alstom reaffirms its intention to preserve its Investment Grade rating while creating sustainable value through its operations and solutions. This hybrid issuance, with last-ranking subordinated terms and an indefinite duration, constitutes an element of the group's financing strategy.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
