Atos has announced the successful placement of its first sustainability-linked bond issue for an aggregate amount of €800 million with an 8-year maturity and a 1.0% coupon.
The coupon of the last 3 years will be unchanged if Atos achieves the following Sustainability Performance Target (SPT): reduction in 2025 of Atos’ annual GreenHouse Gas CO2 emissions (Scopes 1, 2 & 3) by 50% compared to 2019.
This target is aligned with the most demanding objective of the Science-Based Target initiative (SBTi), which aims to keep global warming at 1.5°C. In its Second-Party Opinion, Sustainalytics underlined that “the KPI chosen [is] Very Strong”, ”the SPT [is]aligned with Atos’ sustainability strategy and … Highly Ambitious, given that: (i) it is in line with its historical performance, (ii) it is above its industry peers, and (iii) it presents a [GreenHouse Gas] reduction aligned with a 1.5°C scenario”.
The Sustainability‐Linked Financing Framework and the Second-Party Opinion are available on Atos’ website.
This landmark transaction enables Atos to further reinforce its commitment to, and industry leadership on, sustainability and to lengthen its debt maturity profile.
The bond issuance was more than 2 times oversubscribed. The final terms of the bonds underline investors’ confidence in Atos’ credit profile.
The proceeds of the bonds will be used for general corporate purposes.
The bonds, which are rated BBB- by S&P Global Ratings, will be admitted to trading on Euronext Paris effective on the settlement date, which is expected to take place on November 12, 2021, subject to the granting of the visa on the prospectus by the Autorité des Marchés Financiers.
BNP Paribas, Deutsche Bank, J.P. Morgan are acting as Global Coordinators and Joint Bookrunners of the bond issuance. Crédit Agricole CIB, HSBC, Morgan Stanley, Société Générale, Banco Bilbao Vizcaya Argentaria, Banco Santander, BofA Securities, Commerzbank, Crédit Industriel et Commercial, ING Bank, Natixis, SMBC Nikko Capital Markets, Unicredit Bank and Wells Fargo Securities are acting as Joint Bookrunners.
Rothschild & Co is acting as financial advisor to Atos SE. White & Case is acting as legal advisor to Atos SE and Linklaters as legal advisor to the Joint Bookrunners.