Carrefour Issues a €500 Million Sustainable Bond
Carrefour has announced the successful issuance of a sustainable bond linked to two sustainability goals over a ten-year period. This issuance is part of the group's financing activities and debt refinancing.
Details of the Sustainable Bond
The bond is linked to two strategic objectives: reducing greenhouse gas emissions covering Scope 1 and 2, and increasing the number of suppliers committed to a climate strategy. The issuance features include: an amount of €500 million, issuer Carrefour SA, maturity in December 2035, fixed-rate format with bullet repayment, and an annual coupon of 3.875%. The bond has a 'BBB' rating from Standard & Poor's.
Subscription and Allocation of Funds
The issuance was oversubscribed by nearly six times the amount offered. The €500 million raised will be allocated to finance the general needs of the group as well as to refinance its debt.
