Sustainability-Linked Bonds

Legrand SLB: le grand objectif d’avoir un objectif

Written by Josephine Richardson

Download full paper (0.3mb)

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.

About the author

Josephine Richardson

Josephine Richardson

Managing Director, Head of Research

Based in London, Jo leads AFII’s research and a global team supporting fixed income investors as they align their portfolios with climate and sustainability goals. She joined AFII after 18 years in fixed income markets at JPMorgan.

Before you sign up

By completing this form, you agree to AFII sharing information that we think you may be interested in, including our insights on climate transition. See our Data Protection Policy for more information about how we collect and use your personal data, and any rights you may have in relation to your personal data. You may opt out from our distribution list at any time.