Edenred in €400 Million Inaugural Sustainability-Linked Bond Offering

June 14, 2021

Cleary Gottlieb advised Edenred in its approximately €400 million inaugural offering of sustainability-linked bonds, convertible into and/or exchangeable for new and/or existing shares of the issuer (known by the French acronym OCEANE).

Edenred will use the net proceeds of the offering for general corporate purposes, including the financing of potential external growth operations.

The bonds bear no interest and mature on June 14, 2028. The underlying shares and the bonds are respectively listed on Euronext Paris and Euronext AccessTM of Euronext Paris. The transaction consists of an international public offer to qualified investors in France and outside France (excluding the United States of America, Australia, Canada, and Japan).

In line with the sustainability-linked bond principles administered by ICMA and with the sustainability-linked bond framework published by Edenred on June 9, 2021, if Edenred does not meet the objectives set for the key performance indicators under the conditions described in the terms and conditions of the bonds, a premium amount of 0.5% of the par value of each then outstanding bond will be paid to the bondholders following the sustainability performance target date in 2025.

The offering launched and priced on June 9, 2021, and closed on June 14, 2021.

Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting over 50 million users and 2 million partner merchants in 46 countries via more than 850,000 corporate clients.