On 23 March 2022, Carrefour successfully placed a bond offering for a total amount of EUR 1.5 billion. It is made up of two tranches of so-called Sustainability-Linked Bonds, indexed to the Carrefour group’s sustainable development objectives:
- A first tranche worth EUR 750 million at a fixed rate with a maturity of 4.6 years, with an annual coupon of 1.875%,
- A second tranche worth EUR 750 million at a fixed rate with a maturity of 7.6 years, with an annual coupon of 2.375%.
These bonds are rated BBB by Standard & Poor’s.
Carrefour will report each year in its Universal Registration Document on the level of progress of the key non-financial performance indicators, which will be assessed by an independent third party.
The amounts raised will finance the general needs of the Carrefour group and enable bond refinancing.
Clifford Chance advised Carrefour on this transaction with a team consisting of Cédric Burford, partner, Auriane Bijon, counsel, and Jessica Hadid, associate.
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