Bulletin: French Utility Engie's Proposed Hybrid Bond Buyback Does Not Affect Remaining Hybrids' Equity Content - S&P Global Ratings’ Credit Research

Bulletin: French Utility Engie's Proposed Hybrid Bond Buyback Does Not Affect Remaining Hybrids' Equity Content

Bulletin: French Utility Engie's Proposed Hybrid Bond Buyback Does Not Affect Remaining Hybrids' Equity Content - S&P Global Ratings’ Credit Research
Bulletin: French Utility Engie's Proposed Hybrid Bond Buyback Does Not Affect Remaining Hybrids' Equity Content
Published Oct 12, 2022
3 pages (1338 words) — Published Oct 12, 2022
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Abstract:

PARIS (S&P Global Ratings) Oct. 12, 2022--S&P Global Ratings today said that French utility Engie S.A.'s announced buyback of up to 10% of its hybrid bonds does not affect the remaining hybrids' equity content. On Oct. 12, 2022, Engie announced a capital structure optimization transaction and its intention to buy back up to 10% of its hybrids, which totaled €3.77 billion in December 2021, notably targeting: The €274.2 million outstanding on the hybrid issued in January 2018, with a first reset date in April 2023. Up to €100 million of: 1) the €392.9 million outstanding on the hybrid issued in June 2014, with a first reset date in June 2024, and 2) the €750 million outstanding on the hybrid bond

  
Report Type:

Bulletin

Issuer
Engie S.A.
GICS
Multi-Utilities (55103010)
Sector
Global Issuers, Structured Finance
Country
France
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: French Utility Engie's Proposed Hybrid Bond Buyback Does Not Affect Remaining Hybrids' Equity Content" Oct 12, 2022. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-French-Utility-Engie-s-Proposed-Hybrid-Bond-Buyback-Does-Not-Affect-Remaining-Hybrids-Equity-Content-2901790>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: French Utility Engie's Proposed Hybrid Bond Buyback Does Not Affect Remaining Hybrids' Equity Content Oct 12, 2022. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-French-Utility-Engie-s-Proposed-Hybrid-Bond-Buyback-Does-Not-Affect-Remaining-Hybrids-Equity-Content-2901790>
  
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