13 October 2021

Gasunie issues inaugural sustainability-linked bond

Maarten van der Weijden
Menno Stoffer
Niek Biegman
+ 4 other team members
De Brauw assists Gasunie with the issuance of its inaugural Sustainability-Linked Bond

N.V. Nederlandse Gasunie has successfully issued its inaugural Sustainability-Linked Bond (SLB). The issue amounts to EUR 300 million with a tenor of 15 years, maturing on 13 October 2036. Gasunie is the first company in the European gas transmission sector to issue a SLB. The bond was issued in accordance with Gasunie's recently published Sustainability-Linked Bond Framework, which follows the ICMA Sustainability-Linked Bonds Principles. The adoption of this framework is part of Gasunie's efforts to broaden its ESG financing sources.

De Brauw is pleased to have been able to assist its long-term client Gasunie with the establishment of its Sustainability-Linked Bond Framework and incorporate this framework into the Euro Medium Term Note programme in the form of two ambitious ESG targets. This first-of-a-kind issuance for Gasunie underlines the broader market trend of an increased focus on the ESG aspects of financing arrangements. Next to the rise of sustainability-linked financing arrangements (in which the ESG performance is linked to certain financial consequences), there is also a lot of activity in the green bond market, where the proceeds are used for certain eligible green projects.