VINCI’s Inaugural Green Bond Offering 5x Oversubscribed

Mark Segal November 19, 2020

Concessions and contracting company VINCI announced the successful issuance of its first green bond maturing in November 2028, with a coupon rate of 0%. According to the company, the €500 million offering was more than 5 times oversubscribed.

The company stated that proceeds from the offering will be used for projects that have a positive impact on the environment. VINCI’s recently published green bond statement outlines three pillars for use of green bond proceeds, including Act for the climate, Optimize resources thanks to circular economy and Preserve natural environments. Eligible project categories under these pillars include green buildings, energy efficiency technologies, renewable energy, clean transportation, innovation and preservation of biodiversity.

Joint bookrunners on the deal include CACIB (Green Bond Structurer), Barclays, BNP Paribas, Deutsche Bank and Société Générale. V.E provided a Second Party Opinion (SPO) on the sustainability credentials and management of VINCI’s Green Bond Framework.

Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.