Legrand SLB: le grand objectif d’avoir un objectif

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Legrand, the French industrial group, has an SLB linked to three KPIs observing their targets at the end of 2024. Two targets were achieved, but one was missed.

Legrand achieved a targeted increase in managerial positions held by women, and also engaged a higher-than-target number of key suppliers to set emissions targets. However, the total 2030 targeted emissions reductions fell short, suggested smaller suppliers may have been over-represented.

The bond in question, 3.5% 29s, will pay an increased coupon of 12.5bp.