from OVH (EPA:OVH)
OVHcloud announces the success of its refinancing, marked by the success of its inaugural bond issue and the implementation of the first EU Taxonomy-aligned Green Loan by a European cloud player
Press release
OVHcloud announces the success of its refinancing, marked by the success of its inaugural bond issue and the implementation
of the first EU Taxonomy-aligned Green Loan by a European cloud player
Roubaix – 31 January 2025 –OVHcloud, a global player and the European leader in cloud solutions, announces the success of its refinancing, enabling the Group to diversify its sources of funding. Its main debt now consists of a bond for €500 million, a Green Loan[1] for €450 million, a multi-purpose drawable credit facility for €200 million (not yet drawn down) and a loan from the European Investment Bank for €200 million.
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The success of the bond issue[2] has enabled OVHcloud to raise €500 million at a fixed rate of 4.75%, maturing in 2031. The issue is enabling OVHcloud to diversify its sources of funding and refinance part of the Group's existing debt[3].
In addition, OVHcloud becomes the first European cloud player to take out an EU Taxonomyaligned Green Loan complying with all the substantial contribution to climate change mitigation criteria in the category of Data processing, hosting, and related activities, the Do No Significant Harm (DNSH) principles and the Minimum Social Safeguards.
Lastly, OVHcloud has included a rendez-vous clause in the documentation for the €200 million multi-purpose drawable credit facility, with a view to potentially transforming this facility into a "Sustainability Linked Loan" that includes ESG criteria to be defined and agreed with the lenders.
Stéphanie Besnier, Chief Financial Officer of OVHcloud said:
"We are delighted with the success of these financing operations. The success of our bond issue shows the strong recognition of investors for the solidity of our business model and enables us to diversify our sources of funding. At the same time, being the first European cloud player to implement an EU Taxonomy-aligned Green Loan perfectly illustrates our long-term commitment to building a sustainable cloud."
Press release
Contacts
Media Relations Investor Relations
Pely Correa Mendy Benjamin Mennesson
Communications & Public Relations Leader Head of Investor Relations and Financing media.france@ovhcloud.com investor.relations@ovhcloud.com
+33 (0)6 40 93 80 19 + 33 (0)6 99 72 73 17
[1] The bank financing agreement signed in October 2024 has been amended to include clauses that allow it to be classified as "green".
[2] The Notes are expected to be issued on or about February 5, 2025, subject to the satisfaction of customary closing conditions.
[3] The proceeds from the bond issue will be used to repay the one-year term loan for €470 million taken out in October 2024.