Total has Successfully issued Hybrid Bonds To Finance Its Development Strategy in Renewables
January 18 2021 - 6:12PM
Business Wire
Regulatory News:
Total SE (Paris:FP) (LSE:TTA) (NYSE:TOT) today successfully
issued perpetual subordinated bonds in the amount of €3
billion:
- €1.5 billion at 1.625% coupon for the
tranche with a 7 year first call date - €1.5 billion at 2.125%
coupon for the tranche with a 12 year first call date
The proceeds from the bonds will be used to finance its
development strategy, mainly acquisitions, in renewables, in
particular €1.7 billion for the acquisition of a 20% interest in
Adani Green Energy Limited.
With a weighted average coupon of 1.875%, this issuance that was
very well received by investors will allow the Group to finance its
development in renewables at a reduced capital cost.
Jean-Pierre Sbraire, Chief Financial Officer at Total,
said: “These hybrid bonds provide a cost of capital comparable
to that of pure players in renewables and is therefore suited to
finance acquisitions in this business. These bonds will finance in
a very competitive way our development in renewables, which is at
the heart of our strategy to transform Total into a broad energy
company.”
***
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and electricity. Our 100,000 employees are committed to
better energy that is more affordable, more reliable, cleaner and
accessible to as many people as possible. Active in more than 130
countries, our ambition is to become the responsible energy
major.
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL SE directly or indirectly owns investments are separate legal
entities. TOTAL SE has no liability for their acts or omissions. In
this document, the terms “Total”, “Total Group” and Group are
sometimes used for convenience. Likewise, the words “we”, “us” and
“our” may also be used to refer to subsidiaries in general or to
those who work for them. This document may contain forward-looking
information and statements that are based on a number of economic
data and assumptions made in a given economic, competitive and
regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TOTAL
SE nor any of its subsidiaries assumes any obligation to update
publicly any forward-looking information or statement, objectives
or trends contained in this document whether as a result of new
information, future events or otherwise.
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