EDENRED: Edenred successfully placed its first sustainability-linked convertible bonds for a nominal amount of approximately €400 million
June 9, 2021
Edenred (Euronext Paris: FR0010908533) (the
Company ) has successfully placed today an inaugural sustainability-linked bonds convertible into and/or exchangeable for new and/or existing shares (
OCEANE ) due 2028 (the
Bonds ) for an aggregate nominal amount of approximately €400 million by way of a placement to qualified investors only
1 (the
Offering ). The Offering represents today 6,173,792 underlying shares.
The par value of the Bonds has been set at €64.79, corresponding to a premium of 37.5% above Edenred s reference share price
2 on the regulated market of Euronext in Paris (
Euronext Paris ).
June 9, 2021
Edenred (Euronext Paris : FR0010908533) (the “
Company”) has successfully placed today an inaugural sustainability-linked bonds convertible into and/or exchangeable for new and/or existing shares (“
OCEANE”) due 2028 (the “
Bonds”) for an aggregate nominal amount of approximately €400 million by way of a placement to qualified investors only
1 (the “
Offering”). The Offering represents today 6,173,792 underlying shares.
The par value of the Bonds has been set at €64.79, corresponding to a premium of 37.5% above Edenred’s reference share price
2 on the regulated market of Euronext in Paris (“
Euronext Paris”).
The Bonds will be issued on June 14, 2021 (the “
Issue Date”), being the expected settlement and delivery date of the Bonds. The Bonds will be issued at an issue price equal to 100.875% of par, which corresponds to a yield to maturity of -0.12% and will not bear interest.
at least 64%
The Sustainability Performance Target Minimum Score Condition will be met if Edenred reaches at least 2 out of 3 of the above mentioned KPIs.
The Framework has been established in accordance with the Sustainability-Linked Bond Principles (SLBP) administered by ICMA and reviewed by Ethifinance who provided a Second Party Opinion (“
SPO”) on June 4, 2021. Both the Framework and the SPO are available on the Company’s website: (www.edenred.com).
Conversion/Exchange Right
Bondholders will be granted a conversion/exchange right of the Bonds into new and/or existing shares of the Company (the “
Conversion/Exchange Right”) which they may exercise at any time from the Issue Date and until the 7
0
The Madras High Court (HC) has ruled that the wife is not entitled for a share in the insured money, if her deceased husband did not contribute towards the premium payment.
In a recent ruling, Justice S Vaidyanathan passed interim order on a petition from G Asha, wife of Ganesh Raja of Veppampattu in Tiruvallur district. In case the deceased husband had not made any contribution towards premium, there is no justification on the wife’s part to seek her share, Justice Vaidyanathan said.
Justice Vaidyanathan sought to know who had paid the insurance premium in its entirety till the demise of Ganesh Raja, whether it was his father or he himself has paid or contributed towards the premium payment.
Online Payment System Now For Railway Freight Charges
by Arun Kumar Das - May 2, 2021 05:00 AM
A freight Train (Photo Credits: Aaron C/Wikimedia Commons)
Snapshot
Railways will now provide for collection of freight and all kinds of ancillary charges through all modes like Net Banking/RTGS/NEFT, Credit card/Debit card/UPI through customer s Dash Board.
Ease of doing business gets a major boost in the rail sector as Indian Railways has framed new guidelines for online payment system for freight charges by doing away with the existing system which was a little cumbersome.
The online payment system to be implemented from June will be provided through Freight Business Development (FBD) portal via SBI s payment gateway.