Green Bond
Leasys debuts on the market with a €500 million green bond, the proceeds of which will be used to finance its fleet of electric and plug-in hybrid vehicles and extend its network of fast-charge electric charging points.
In the context of the challenge of global climate change, Leasys believes that the mobility industry has a responsibility to minimize its CO2 footprint and, as part of this, it recognizes the need to make a transformation by embracing the challenge of ecological transition from combustion engines to plug-in-hybrid (PHEV) or all-electric (EV) powertrains.
Leasys's strategy to accelerate this transition is based on low-emission mobility, and environmental and social responsibility, aiming to support the goals set by the Paris Agreement and to contribute to the achievement of the Sustainable Devolopment Goals of the United Nations 2030 Agenda insofar as they promote, directly or indirectly, progress on: Good Health and Wellbeing (SDG3), Decent Work and Economic Growth (SDG8), Industrial Innovation and Infrastructure (SDG9), Sustainable Cities and Communities (SDG11), Responsible Consumption and Production (SDG12) and Climate Action (SDG13).
To fund this strategy, on 15 July 2021 Leasys, a subsidiary of FCA Bank, a 50/50 joint venture between Stellantis and Crédit Agricole, issued a €500 million green bond, with maturity in July 2024 and a fixed-rate coupon of 0.00 per cent.
This is the first time that FCA Bank and Stellantis have carried out such a significant transaction, placing a green bond on the capital market. This initiative was made possible by the strong support of the Crédit Agricole Group.
The proceeds of the green bond will be used by Leasys to finance its fleet of electric and plug-in hybrid vehicles and the extension of its network of electric fast charge points. In particular, Leasys's network of over 1,000 charging points will be tripled over the life of the bond, in pursuit of Leasys's electrification strategy.
The green bond issue, structured and coordinated by Crédit Agricole CIB, marks Leasys’s capital market debut and was characterized by a very high quality order book, with €2.3 billion raised from 129 investors, confirming the confidence of FCA Bank's investors.