Leading international law firm Clifford Chance has advised the global coordinators and joint lead managers, on the issue of €650 million 1.25% sustainability-linked bonds due 6 April 2029 and an issue of €850 million 0.875% bonds due 6 April 2025 by Sanofi.
The sustainability-linked bonds are indexed on access to medicines, with coupon amounts being linked to the achievement by Sanofi of its target to provide essential medicines for the treatment of non-communicable diseases in 40 of the world’s poorest countries between 2022 and 2026. The sustainability-linked bonds have been issued under Sanofi’s sustainability-linked bond framework which is aligned with the 2020 Sustainability-Linked Bond Principles published by ICMA and has been independently assessed by the second party opinion provider ISS ESG.
The net proceeds of the offering will be used by Sanofi for its general corporate purposes.
The bonds are rated A1 by Moody’s, AA by S&P and AA by Scope and have been admitted to trading on Euronext Paris.
The Clifford Chance team was composed of Cédric Burford, partner, Andrew McCann, counsel, and Baya Hariche, associate.
