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Paris 7 septiembre 2022
Neoen launches an offering of green bonds convertible into new shares and/or exchangeable for existing shares due 2027 for a nominal amount of €300 million. 

  • Neoen issues a new €300 million green convertible bond and exercises its option to redeem its c.€200 million convertible bonds due in October 2024 
  • Neoen’s new green convertible bond due 2027 will be issued at par for a nominal amount of €300 million and will bear interest at a rate ranging from 2.625% to 3.125% from the Issue Date (as defined below). The bonds will have a denomination of €100,000. The conversion premium is expected to be between 30% and 35% over the reference share price 
  • Net proceeds of the new bonds will be allocated to finance or refinance renewable energy production and storage projects in consistency with Neoen’s green bond framework, which is available on the Company’s website 

Neoen, hereinafter the “Company” or “Neoen”, (ISIN Code: FR0011675362, Ticker: NEOEN, Moody’s ESG Solutions rating 65/100), one of the world’s leading independent producers of exclusively renewable energy, announces today the launch of an offering of senior unsecured green bonds convertible into new shares and/or exchangeable for existing shares of the Company due 2027 (the “Bonds”), by way of a placement to qualified investors only in accordance with Article L. 411-2, 1° of the French monetary and financial code (Code monétaire et financier), for a nominal amount of €300 million (the “Offering”). Concurrently with the Offering, Neoen is exercising its option to redeem its outstanding c.€200 million convertible bonds due 2024 issued on October 7th, 2019 (ISIN FR0013451820) (the “Existing Bonds”) in accordance with the terms and conditions of the Existing Bonds (together with the Offering, the “Transaction”). 

The net proceeds of the Offering will be allocated to finance or refinance renewable energy production and storage projects in consistency with Neoen’s green bond framework dated May 27th, 2020 and reviewed by Moody’s ESG Solutions (formerly known as Vigeo Eiris). 

Xavier Barbaro, Chairman and CEO of Neoen, comments: We are delighted that investors who subscribed to our previous convertible bond issue in 2019 are able to crystalize the value created by Neoen over the past 3 years. Through the launch of this new convertible bond issue, we are also extremely happy to enable new investors to take part in the financing of our future growth, in the buoyant environment surrounding the renewable energies, as well as giving them the opportunity to be associated with our environmental commitments, as this transaction meets the green bonds criteria. Neoen is proud to combine sustainable growth, social and environmental excellence and financial discipline.” 

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