Commentary & Deal Flow

Verallia SA (VRLAFP), the European leader and world’s 3rd largest producer of glass packaging for beverages and food products, rated BB+ (positive) by S&P and Ba2 (stable) by Moody’s, has mandated BNP, Santander and SocGen as jt glocos to arrange a series of fixed income investor calls today, including a general investor call at 10.30am UKT. A NetRoadshow presentation and a standalone Preliminary Prospectus are available. BNP Paribas is coordinating roadshow logistics.

A EUR500m (WNG), RegS Bearer, senior unsecured Sustainability-Linked Bond offering expected to be rated BB+ by S&P with a maturity of 9 or 10 years will follow, subject to market conditions. The net proceeds of the issuance will be used to refinance part of the existing financial indebtedness of the Group.

The Sustainability-Linked Bond offering will be issued in accordance with Verallia’s Sustainability-Linked Financing Framework dated April 2021. A Second Party Opinion has been delivered by V.E..

The offering will be linked to Verallia achieving 2 KPI conditions by 2025: 1. Reduce CO2 emissions (scope 1 and 2) to 2,625 kt by 2025 (15% decrease vs 2019 baseline of 3,090 kt; and 2. Increase external cullet share to 59% by 2025 (10 points increase vs 2019 baseline of 49%).