Total: E3bn bond issue
(CercleFinance.com) - Total has announced that it has launched an issue of indefinite subordinated bonds amounting to three billion euros, in two tranches of 1.
5 billion each with coupons of 1.625% and 2.125%, and redemption options of seven and twelve years respectively.
The funds thus raised will be used to finance the group's growth strategy - in particular acquisitions in renewable energy, 1.7 billion euros for the acquisition of the 20% stake in Adani Green Energy Limited.
Total said that, with a weighted average coupon of 1.875%, this issue, which was warmly welcomed by investors, will enable the group to finance its development in renewable energy at a lower cost of capital.
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