KEOLIS: Public transport operating group Keolis has issued its inaugural sustainability-linked Schuldschein, a private placement with a margin adjustment mechanism linked to environmental, diversity and safety performance.
KPIs include the proportion of employees in subsidiaries covered by environmental management system certification; reducing greenhouse gas emissions; increasing the proportion of women in the workforce; and increasing the proportion of employees covered by a safety management standard accreditation.
The placement ‘further strengthens Keolis’ financing structure by extending the maturity of its debt at competitive conditions’, said Chief Financial & Legal Officer Christelle Villadary on December 19.
The €100m Schuldschein with tenors of five and seven years was arranged by Crédit Agricole CIB, ING and Société Générale and distributed with investors from Europe and Asia. Keolis was advised by the law firm White & Case. The proceeds will be used for general corporate purposes.
‘It is an important step towards the diversification of the group’s funding sources that is fully aligned with Keolis’ broader strategic shift to sustainability-linked financings’, said Villadary. ‘The success of this private placement, despite a challenging market environment, highlights the strong support and confidence of our financial partners in Keolis.’
