Commentary & Deal Flow

5.5yr: Final Books > €1.6bn at reoffer. Peak book > €2bn pre-rec

Launched: 5.5yr: €500m @ 4.95% - Orderbooks > €2bn pre-rec
IPTs: 5.5yr: 5.375%a

• Issuer: SPIE SA
• Ticker: SPIEFP
• Country: FR
• Issuer LEI: 969500TJNS5GSFWJ8X85
• Issuer Ratings: BBB- (stable) by Fitch / BB+ (stable) by S&P
• Exp Issue Ratings: BBB- by Fitch / BB+ by S&P
• Format: Senior Unsecured, Reg S (Cat 2), Bearer, Dematerialised Form, Sustainability-Linked Bond
• Pricing Date: 21-Sep-26
• Settlement Date: 28-Sep-26 (T+5)
• Maturity Date: 28-Mar-32 (5.5Y)
• Issue Size: €500m
• Final Yield: 4.95% Ann
• Coupon: Fixed, Annual, Act/Act (ICMA) (Short First Coupon)
• ISIN Code: FR001401B6Q4
• Use of Proceeds: Proceeds of the issue of the Bonds will be used by the Issuer for general corporate purposes and the partial refinancing of the existing debt of the Group, including the €400,000,000 Sustainability-linked Senior Unsecured Bonds Settled in Cash and/or Convertible into New Shares and/or Exchangeable for Existing Shares issued on 17-Jan-23 and due 17-Jan-28
• Investor Presentation: URL: https://dealroadshow.finsight.com Entry Code: SPIE26 Direct Link: https://dealroadshow.finsight.com/e/SPIE26
• Documentation: Standalone / French Law / Euronext Paris / MWC / CoC / Clean-Up Call 75% / 3m Par Call / €100k + €100k
• Global Coordinators: BNP Paribas (B&D), Crédit Agricole CIB, Natixis, Société Générale
• Active Bookrunners: Goldman Sachs Bank Europe SE, HSBC, La Banque Postale, Raiffeisen Bank International
• ESG Structuring Advisor: Crédit Agricole CIB
• Sustainability Performance Targets (SPTs): SPT1 for KPI 1: Reduce absolute Scope 1 & 2 GHG emissions in tCO2e -50% by 31-Dec-30 vs. 2019 SPT2 for KPI 2: Reduce Scope 3 Intensity per Value Added by -55% by 31-Dec-30 vs. 2019
• Sustainability-Linked Premium Payment: 0.30% max of the outstanding principal amount of the Bond at the maturity date: - 0.15% if one of the SPT is not achieved - 0.30% if both of the SPTs are not achieved
• Observation Date: 31-Dec-30
• SLB Framework & SPO: Available on Issuer’s website under sections “Sustainability-Linked Financing Framework” https://www.spie.com/fr/investisseurs/resultats-financiers/dette-et-financement
• Second Party Opinion: Sustainable Fitch
• Clearing system: Euroclear France
• Target Market: Manufacturer target market is eligible counterparties and professional investors (all distribution channels). No EEA PRIIPs key information document (KID), no disclosure document under the DISC or CCI product summary has been prepared as not available to retail in EEA or the UK.
• Advertisement Language: The final Prospectus will be available on the AMF website: https://www.amf-france.org and on the Issuer website: https://www.spie.com/en/investors/financial-results/debt-and-financing
• Timing: Books open - today’s business
• Books Subject Deadline: 12:30 UK / 13:30 CET