Saint-Gobain issues first double green bond

Saint-Gobain issues first double green bond
27 March 2024

Saint-Gobain has successfully priced its first double green bond, reinforcing its commitment to sustainable construction. This follows a Sustainability Linked Bond in August 2022 and renewal in December 2023 of its backup revolving credit facility as a Sustainability Linked Loan.

Two tranches of the green bond have been issued – EUR1bn with a six-year maturity and a 3.375 per cent coupon, and EUR1bn with a 10-year maturity and a 3.625 per cent coupon. According to the company, the bonds were about 3x oversubscribed with close to 200 investors, demonstrating confidence in the group’s credit quality. 

“As the worldwide leader in light and sustainable construction, sustainable growth is at the heart of Saint-Gobain’s business model and central to its “Grow & Impact” strategy. The group is both reducing its own carbon footprint and at the forefront of decarbonising the construction sector with its low-carbon commercial offers aimed at maximising the positive impact for its customers,” says Sreedhar N, chief financial officer, Saint-Gobain, “In line with this ambition, I am delighted to announce the issuance of our first green bond today, reinforcing our commitment to further invest in sustainable construction.”

Published under Cement News