Saur, the leading water actor, revolutionizes the sector with the issuance* of Blue Bonds
Issy-les-Moulineaux, October 17, 2024 – The Saur Group proudly announces that it has set the price for the first Blue Bonds in the water sector, amounting to half a billion euros, thus confirming its role as a pioneer in sustainable finance for the water transition. This unprecedented operation for a water player reaffirms Saur's commitment to resource preservation at a time when the protection of ecosystems and sustainable water management are becoming global priority issues.
Blue Bonds, inspired by the model of Green Bonds, are specifically dedicated to financing projects aimed at protecting and restoring water resources. Through this issuance, the Group will support concrete initiatives related to sustainable water management, such as:
- the production and distribution of water
- the collection and treatment of wastewater
- desalination of water, using technologies aimed at minimizing environmental impact
A strategic ambition aligned with its purpose: restoring the value of water.
Saur positions itself as a leader in the water transition, aiming to transform water resource management from upstream (reducing consumption) to downstream (valorizing wastewater). Through this issuance of Blue Bonds, the Group takes an additional step in its environmental commitment.
The funds raised through this issuance will be used for:
- Refinancing existing debts, including the repayment of €450 million Sustainability-Linked Senior Notes due in 2025.
- Financing and refinancing eligible blue projects related to the protection of water resources, in accordance with Saur's green and blue financing framework.
A comprehensive sustainable development strategy
Since 2020, Saur has implemented an ambitious roadmap aimed at enhancing its operational performance, internationalizing its activities, and becoming a key player in industrial water management. With a revenue of €2.1 billion in 2023, Saur aims to reach €4 billion by 2030, focusing on innovation and sustainable solutions. The issuance of these Blue Bonds aligns with this long-term strategy, strengthening the Group's ability to attract funding for projects with significant environmental impact.
Investor Confidence
In 2021, Saur became the first water sector player in France to refinance its debt through sustainable bonds totaling nearly €1 billion. This new operation with Blue Bonds once again demonstrates investor confidence in Saur's vision and ambitions regarding water and environmental transition.
Patrick Blethon, Executive Chairman of the Saur Group, states: "By becoming the first issuer of Blue Bonds in the water sector, Saur affirms its leadership and visionary commitment to more sustainable water resource management. This operation sends a clear message to our partners and investors: at Saur, innovation and environmental responsibility are the drivers of our growth."
*Although we are referring to "issuance" in this statement, it is important to clarify that at this stage, we have primarily priced the Blue Bonds. The pricing stage is crucial, as it marks the finalization of the financial conditions before the official issuance in the market