Proximus issue €750m green bond
NOVEMBER 13, 2023 13.00 EUROPE/LONDON BY CHRIS DZIADUL

Belgium’s Proximus successfully issued a new 10-year green bond for an amount of €750 million, to be listed on Euronext Brussels.

According to the operator, the issuance was very well received with an order book peaking above €3.3 billion (finishing 3.6 times oversubscribed at final terms) and was placed with 112 European institutional investors.

Proximus adds that the transaction fits well into its long-term funding plans and is in line with its bold2025 strategy, where sustainability is one of the key pillars. The net proceeds will be allocated to finance, refinance and/or invest in projects outlined in the Eligible Projects portfolio in accordance with Proximus’ Sustainable Finance Framework. Examples include the deployment of fibre and 5G under the Energy Efficiency and Circular Economy categories in the Framework.

Commenting on the issue, Mark Reid, finance lead at Proximus, said: We are delighted with the success of this new Green Bond issuance, enabling us to increase our average debt duration and to further diversify our credit investor base. It demonstrates the strong confidence of institutional investors in Proximus’ strategy, the proven robustness of our credit metrics, as well as our solid track record in sustainable finance.