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Getlink: prices first 550 million euro green bond issue

(CercleFinance.com) - Getlink announces that it has successfully completed the placement of senior secured green notes, due in October 2023 for a principal amount of 550 million euros.


The issue, announced on 24 September 2018, was largely oversubscribed to and enabled the Group to increase the issue from 500 million to 550 million euros.

The bonds will be issued at par and will bear interest at an annual rate of 3.625%, payable semi-annually in arrears on 30 June and 30 December, effective as of 30 December 2018. The Notes are classified as Green Bonds (and rated BB by Standard & Poors and BB+ by Fitch).

Management said that “The Company intends to use the net proceeds of the Offering to repay the £190 million bank loan incurred in February 2018 by the Company's subsidiary Eurotunnel Agent Services Limited to purchase the G2 bonds and to finance capital expenditure in relation to the Group's ElecLink project.”



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