L'Oréal: News Release: "L’Oréal successfully launches its inaugural
€3 billion dual-tranche bond offering including a
Sustainability-Linked tranche"
NEWSRELEASE
NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES, CANADA,
JAPAN OR AUSTRALIA
L’ORÉAL
SUCCESSFULLY PRICES
ITS INAUGURAL 3
BILLION EURO
BOND INCLUDING A
SUSTAINABILITY-LINKED TRANCHE
Clichy, March
22nd,
2022 – L’Oréal
today announces that it has successfully priced its inaugural
public bond offering for an aggregate nominal amount of €3.0
billion.
The offering is composed of three tranches:
- A €1,000 million
2-year fixed rate bond paying a coupon of 0,375% p.a.
- A €750 million
2-year floating rate note and
- A €1,250 million
4.25-year Sustainability-Linked bond paying a coupon of 0,875%
p.a.
The new issuance has benefitted from an
exceptional market reception with total demand of €10.7 billion,
just over 3.5 times the combined volume of the offering.
The Sustainability-Linked bond is aligned with
L’Oréal’s newly introduced Sustainability-Linked Financing
Framework. The framework has been independently assessed by the
rating provider Sustainalytics who published a Second-Party
Opinion.
The Sustainability-Linked bond is tied to
L’Oréal’s achievement of three Sustainability Performance
Targets:
- Absolute Scopes 1
and 2 GHG emissions at all L’Oréal operated sites reaching zero by
31st December 2025
- Reduction of Scopes
1, 2 and 3 GHG emissions on a “cradle-to-shelf” scope by 14% per
sold product by 2025 from a 2021 base year
- 50% of the Group’s
plastics used in packaging will be either from recycled or biobased
sources by 2025.
L'Oréal will report annually in its Universal
Registration Document on the level of achievement of the Key
Performance Indicators.
The Sustainability-Linked Financing Framework
and the Second-Party Opinion are available
at www.loreal-finance.com.
The net proceeds of the bonds will be used for
general corporate purposes including repayment of the short-term
debt related to L’Oréal’s buyback of 4% of its own shares from
Nestlé announced on 7 December 2021.
The bonds, which are rated AA (Stable) by
S&P and Aa1 (Stable) by Moody’s, will be admitted to trading on
Euronext Paris from the settlement date, which is scheduled to take
place on 29 March 2022, subject to the approval of the prospectus
by the Autorité des Marchés Financiers.
BNP Paribas and J.P. Morgan are acting as Global
Coordinators and Joint Bookrunners of the bond issuance. Citi,
Crédit Agricole CIB, Deutsche Bank, HSBC, Natixis, and Société
Générale are acting as Joint Bookrunners. BNP Paribas, Crédit
Agricole CIB, and J.P. Morgan are acting as ESG Structuring
advisors.
About
L'Oréal
For over 110 years, L’Oréal, the world’s leading
beauty player, has devoted itself to one thing only: fulfilling the
beauty aspirations of consumers around the world. Our purpose, to
create the beauty that moves the world, defines our approach to
beauty as inclusive, ethical, generous and committed to social and
environmental sustainability. With our broad portfolio of 35
international brands and ambitious sustainability commitments in
our L’Oréal for the Future programme, we offer each and every
person around the world the best in terms of quality, efficacy,
safety, sincerity and responsibility, while celebrating beauty in
its infinite plurality.
With 85,400 committed employees, a balanced
geographical footprint and sales across all distribution networks
(e-commerce, mass market, department stores, pharmacies, hair
salons, branded and travel retail), in 2021 the Group generated
sales amounting to 32.28 billion euros. With 20 research centers
across 11 countries around the world and a dedicated Research and
Innovation team of over 4,000 scientists and 3,000 tech
professionals, L’Oréal is focused on inventing the future of beauty
and becoming a Beauty Tech powerhouse.
More information
on https://www.loreal.com/en/mediaroom
"This press release is for information purpose
only and does not constitute an offer of sale or solicitation of an
offer to purchase L'Oréal shares. If you wish to obtain more
comprehensive information about L'Oréal, please refer to the public
documents registered in France with the Autorité des Marchés
Financiers, also available in English on our website
www.loreal-finance.com.
This news release does not constitute an offer
or a solicitation by or on behalf of L’Oréal or any of its
subsidiaries to subscribe for or purchase any securities in the
U.S. as defined in the Regulation of the U.S. Securities Act of
1933, as amended (the “Regulation S”). The
securities referred to herein have not been and will not be
registered under the Regulation S, and may not be offered or sold,
directly or indirectly, within the United States or to, or for the
account or benefit of, U.S. persons, as such term is defined in
Regulation S, expect pursuant to an exemption from or in a
transaction not subject to the registration requirements of this
regulation. L’Oréal does not intend to register any portion of the
offering in the United States or to conduct an offering of the
Bonds, as defined below, in the United States.
No communication or information relating to the
offering by L’Oréal of the bonds described in this announcement
(the “Bonds”) may be transmitted to the public in
a country where there is a registration obligation or where an
approval is required. No action has been or will be taken in any
country in which such registration or approval would be required.
The issuance or the subscription of the Bonds may be subject to
specific legal or regulatory restrictions in certain jurisdictions.
As such, L’Oréal will not assume any liability in connection with
the breach by any person of such restrictions.
This news release does not constitute a
prospectus within the meaning of Regulation (EU) 2017/1129 (the
“Prospectus Regulation”).
The Bonds are being issued by way of a placement
to qualified investors only (within the meaning of article 2, point
(e) of the Prospectus Regulation), in accordance with Article L.
411-2-1° of the French Financial and Monetary Code and other
applicable laws and regulations, in France and outside of France
(excluding, in particular, the United States, Canada, Japan, or
Australia), without an offer to the public (other than to qualified
investors) in any country (including France).This press release may
contain forecast information. While the Company believes that these
statements are based on reasonable assumptions as of the date of
publication of this press release, they are by nature subject to
risks and uncertainties which may lead to a discrepancy between the
actual figures and those indicated or suggested in these
statements.”
CONTACTSL’ORÉALSwitchboard+33 (0)1 47 56 70
00 |
Individual shareholders and market
regulatorsChristian MUNICH+33 (0)1 47 56 72
06Christian.munich2@loreal.com |
Financial analysts
and institutional
investorsFrançoise LAUVIN+33 (0)1 47 56 86
82Francoise.lauvin@loreal.com |
Media Noëlle CAMILLERI+33 (0)6 79 92 99
39Noelle.camilleri@loreal.com Christine BURKE+33 (0)6 75 54
38 15Christine.burke@loreal.com |
For further information, please contact your
bank, stockbroker of financial institution (I.S.I.N. code:
FR000012031), and consult your usual newspapers or
magazines or the Internet site for shareholders and investors,
www.loreal-finance.com, the L’Oréal Finance app or call the
toll-free number from France: 0 800 66 66 66. 0 800 66 66
66
This press release has been secured and authenticated with
the blockchain technology. You can verify its authenticity on
the website www.wiztrust.com
- L'Oreal Bond Press Release (ENG)
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