Darrois Villey Maillot Brochier advises Valeo on its €600 million inaugural green bond issuance, supported by an important participation by the European Investment Bank

Paris, 17 October 2023

Darrois Villey Maillot Brochier has advised its client Valeo S.E on its inaugural green bond issuance for a total amount of €600 million, with a 5.5-year maturity and a 5.875% coupon.

The green bonds, which are admitted to trading on the regulated market of Euronext Paris, have been issued in accordance with Valeo’s new Green and Sustainability-Linked Financing Framework established in September 2023.

The net proceeds of the issue will be used to finance and/or refinance one or more Green Eligible Projects pursuant to Valeo’s Green and Sustainability-Linked Financing Framework. These include projects related to both production systems and the introduction of new technology in the relevant categories including clean transportation, renewable energy, energy efficiency, sustainable water and waste water management, and circular economy.

A key feature of this operation is the important support from the European Investment Bank (EIB), which has subscribed in the amount of €150 million in Valeo’s green bonds. This operation is a first for the EIB as a leading investor in a senior green bond issue in France.

The Darrois Villey Maillot Brochier team was composed of Laurent Gautier (partner), Isabelle Touré-Farah (counsel) and Charles Seveyras in capital markets. Loïc Védie (partner) advised on tax aspects.

The bank syndicate was advised by Clifford Chance.