BNP Paribas CIB closes three green financing transactions with Dutch clients in one week
With transactions for Tennet, KPN, JDE Peet’s and Stedin Groep in one week, the month of November has started well for BNP Paribas. The green bonds for Tennet and Stedin and the sustainability-linked bond for KPN clearly show the demand in the Dutch market for green financing solutions.
The bond issue of Koninklijke KPN N.V. is the first sustainability-linked bond in the European Telecom sector and represents a value of EUR 700 million with a tenor of 12 years.
TenneT has successfully priced a new senior Green Bond of EUR 1 billion, representing its largest ever issue-size. The proceeds will be used to invest in eligible green power transmission projects in the Netherlands and Germany focused on connecting large-scale offshore wind farms to the onshore electricity grid and enhancing the onshore transmission capacity for renewable energy
Stedin Group has issued its second green bond. The proceeds from the EUR 500 million issue will be used to invest in a wide range of sustainable projects such as connecting new wind turbines and solar farms to Stedin’s electricity network and energy-efficient buildings.
In addition, we supported JDE Peet’s with the pricing and issuance of EUR 600 million single-tranche notes. The proceeds will be used to refinance existing debt facilities and for general corporate purposes.
Murray Black, head of DCM The Netherlands: “At BNP Paribas, we support our clients with financial solutions, industry knowledge and we apply ESG-understanding and technology for their sustainable strategy. We are proud to be able to use our global capabilities for our customers and thus play a pioneering role in the development of sustainable finance.”
Guido van den Brande, co-head of corporate coverage The Netherlands: “We are in an ongoing dialogue with our customers about how we can meet their financing needs in a sustainable way. We clearly see a shift here; it is increasingly natural for investors to integrate ESG into their portfolio. By bringing supply and demand together, we contribute to the sustainable growth of our customers.”
In 2021, BNP Paribas received awards for “Best bank in the world for sustainable finance” and “Best bank in the world for ESG data and technology” from Euromoney.