Water management and services provider Saul has announced that it has priced its first blue bond at €550 million to fund initiatives related to sustainable water management.
Saur is based in France and operates in 20 countries with services such as drinking water provision, wastewater purification and water management infrastructure development. The company was the first French company to issue a blue bond and also the first water utility in Europe. Similar in nature to green bonds, which have use of proceeds requirements focused on environmental sustainability, blue bonds provide funds to finance projects that contribute to water sustainability, such as water conservation. procure.
Proceeds from the Blue Bond will be used to finance new or existing eligible Blue projects as defined in the Company’s Green & Blue Financing Framework. According to the company, initiatives supported through the issue include water production and distribution, wastewater collection and treatment, and water desalination using technologies aimed at minimizing environmental impact. That’s what it means.
Patrick Bresson, Executive Chairman of Saur Group, said:
“By becoming the first blue bond issuer in the water sector, Saul confirms its leadership and visionary commitment to more sustainable water resource management. At Saur, we are sending a clear message that innovation and environmental responsibility are the drivers of our growth.”
Global coordinators and joint bookrunners on the transaction include BNP Paribas, Crédit Agricole Corporate & Investment Bank, Morgan Stanley Europe SE, Natixis CIB, and HSBC and Société Générale Corporate & Investment Bank. Banking acted as joint bookrunner.
The Global Coordinator said:
“We are thrilled to support Saul in launching this innovative blue bond that highlights the importance of water conservation while meeting strong investor demand for impactful environmental solutions. ”
