Prague, August 29, 2024 - ČEZ, a. s. (Baa1/A-) emphasizes the implementation of global climate goals and the environmental impact of its business in general. In line with this strategy, its third EUR 700 million 4,125% sustainability-linked notes due 2031 have been successfully introduced on capital markets. The notes are based on recently updated Sustainable Financing Framework, that confirms ČEZ Group’s commitment to decrease the emission intensity by reducing coal exposure and enhancing renewable sources.
In case ČEZ does not meet its GHG Emission Intensity target of max. 0.16 tCO2e/MWh by 31st December 2030, this will result in a Redemption Premium of 0.75% paid at maturity in 2031.
The deal was priced at a spread of 170 basis points above the reference mid-swap rate with a resulting issue price of 99,708%. The expected issue date is September 05, 2024. The sustainability-linked notes will be issued under the established EMTN Programme. Barclays, CaixaBank, Citigroup, Commerzbank, IMI-Intesa Sanpaolo, SMBC and Société Générale have acted as Joint Lead Managers. Citigroup has accepted the role of Sustainability Structuring Coordinator.