Refinancing of the Perp NC24 hybrid issue for €600 million

Veolia has successfully issued €600 million in hybrid bonds and announced the redemption of the Perp NC24 hybrid issue for the same amount.

Veolia took advantage of a very positive response to its quarterly results published on 9 November and a favorable market momentum to launch the early refinancing of a €600 million hybrid bond due in January 2024. This transaction will take the form of a 6% deeply subordinated perpetual hybrid notes in euros issue, with a first reset date in February 2029.

The strong demand led to a sizable orderbook (up to €3.4 billion) which enabled Veolia to substantially improve the pricing of the issuance, and reach a negative new issue concession compared to the fair value priced by the secondary market.

The high level of oversubscription, the quality of the investors and the very good terms obtained is a testimony of the very positive perception of Veolia's credit rating and its financial strength.

Following this transaction, Veolia's stock of hybrid debt remains unchanged at €3.6 billion.

About Veolia

Veolia Group aims to become the benchmark company for ecological transformation. Present on five continents with nearly 213,000 employees, the Group designs and deploys useful, practical solutions for the management of water, waste and energy that are contributing to a radical turnaround of the current situation. Through its three complementary activities, Veolia helps to develop access to resources, to preserve available resources and to renew them. In 2022, the Veolia group provided 111 million inhabitants with drinking water and 97 million with sanitation, produced 44 terawatt hours of energy and recovered 61 million tonnes of waste. Veolia Environnement (Paris Euronext: VIE) achieved consolidated revenue of 42 885 million euros in 2022. www.veolia.com