Signing of financing package for a total amount of EUR 420M, incorporating innovative sustainable features and largest Euro PP raised by a corporate this year
Natixis is pleased to announce the recent signing of the global EUR 420m financing in favor of Séché Environnement (“Séché”), France’s leading independent operator in France in the recovery and treatment of all types of waste, from industry to local community and a major player in circular economy and energy recovery solutions for waste.
This global financing comprises:
- a five-year EUR 270m green loan refinancing for which Natixis and Société Générale acted jointly as Coordinators & Active Bookrunners as well as Sustainability Co-coordinators;
- a EUR150m Euro PP with an average maturity of seven years where Natixis acted as Sole Global-coordinator and Joint Bookrunner together with BNPP as Joint Bookrunner
The objective of the syndicated loan was to refinance current existing debt (loan and Euro PP) as well as to grant Séché additional liquidity to accompany its strategic capex plans.
The loan was successfully syndicated to Séché’s relationship banks and incorporates innovative environmental, social and governance (ESG) performance criteria based on its sustainable development strategy, namely
- commitment to preserve biodiversity through programs & concrete Initiatives;
- energy efficiency and self-sufficiency policy;
- ESG performance with extra-financial rating agency EthiFinance to evaluate this performance.
Séché will be able to benefit from better financing terms when achieving pre-agreed and independently audited targets under these criteria.
The Euro PP mainly in bond format with a loan tranche is the largest amount raised by a corporate this year. Natixis accompanied the company earlier this year on a marketing exercise with key leading institutional investors, which enabled to diversify its sources of funding together with its investor base.
This transaction is a milestone in Euro PP and green RCF & Term Loan markets arranged by Natixis, which confirms Natixis’ core commitment towards green and sustainable finance as a key strategic pillar of its strategic plan.