(MENAFN- GlobeNewsWire - Nasdaq) PRESS RELEASE
Paris, April 4, 2024
Valeo announces its green bond issue for an amount of 850 million euros with maturity April 2030
On April 4, 2024, Valeo announced the placement of 850 million euros worth of new green bonds maturing April 11, 2030.
This issue raised 850 million euros in bonds maturing in 6 years with a coupon of 4,50%. BNP Paribas, Crédit Agricole CIB, Citibank, Mizuho and Natixis acted as Joint Active Bookrunners. The net proceeds of the transaction will be used for financing projects and investments linked to the portfolio of technologies that contribute to low-carbon mobility, in particular vehicle electrification.
The green bonds are issued under Valeo's Green and Sustainability-linked Financing framework, established in September 2023, available on Valeo's website in the Bond Investors section. A second supplement to the base prospectus was approved by the AMF on 3 April 2024.
By 2050, Valeo aims to achieve Net Zero covering all of its operating activities and its supply chain worldwide and its entire value chain in Europe (all the objectives of the CAP 50 plan are available in the Valeo Universal Registration Document, Chapter 4). To achieve its objectives, Valeo will continue to develop its portfolio of technologies that promote low-carbon mobility accessible to the greatest number.
About Valeo
As a technology company and partner to all automakers and new mobility players, Valeo is innovating to make mobility cleaner, safer and smarter. Valeo enjoys technological and industrial leadership in electrification, driving assistance systems, reinvention of the interior experience and lighting everywhere. These four areas, vital to the transformation of mobility, are the Group's growth drivers.
Valeo in figures: 22 billion euros in sales in 2023 | 112,700 employees at December 31, 2023 | 29 countries, 175 plants, 66 research and development centers and 20 distribution platforms.
Valeo is listed on the Paris Stock Exchange.
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