Debtholders
Getlink SE Green Bonds
Description
- ISIN
XS1886399093 – Getlink SE, €550,000,000 Senior Secured Notes due 2023 - Nominal
€1,000 - Number
550,000 - Issued on
3 October 2018 - Interest rate
3.625% per annum - Paid semi-annually on
30 June and 30 December - Maturity date
1 October 2023 - Optional redemption
- First call date
1 October 2020 - Redemption prices
101.813% from 1 October 2020
100.906% from 1 October 2021
100.000 % from 1 October 2022
- First call date
- Listed
Euronext Dublin
Green Bond issue Documentation – September 2018
Eurotunnel debt
Description – Eurotunnel Term Loan
In April 2018, the corporate reorganisation of the Group lead to the creation of a separate “Eurotunnel” sub-group for the operation of the Fixed Link distinct from the Group’s other business sectors. This involved the transfer of the two Concessionaires companies (FM SA and CTG Ltd) to Eurotunnel Holding SAS, which became the new holding company for the sub-group and replaced Getlink SE as guarantor in respect of the Term Loan.
As at 31 December 2018, the Term Loan put in place on 28 June 2007, as modified on 24 December 2015, 6 June 2017 and 13 April 2018 comprises the following elements:
| £1 = €1.118 | Rate | Final maturity | Outstanding debt | as at 31 December 2018 | Nominal value |
|---|---|---|---|---|---|
| Tranches | |||||
| % | GBP £ | EUR € | Combined in EUR € | ||
| A1/A4 (inflation linked) | 2.887/3.377 | 2042/2041 | 290,902,409 | 70,640,723 | 395,869,615 |
| A2/A5 (inflation linked) | 2.887/3.377 | 2042/2041 | 145,451,204 | 142,249,126 | 304,863,573 |
| A3/A6 (fixed rate) | 3.487/3.977 | 2042/2041 | 290,902,409 | 142,249,126 | 467,478,019 |
| B1/B2 (fixed rate) | 6.631/6.182 | 2046/2041 | 326,585,809 | 543,964,583 | 909,087,517 |
| C1B (fixed rate) | 3.848 | 2046-2050 | 336,500,000 | 376,207,000 | |
| C2C (fixed rate) | 3.748 | 2041-2050 | 83,000,000 | 83,000,000 | |
| C2D (fixed rate) | 3.748 | 2041-2050 | 140,000,000 | 140,000,000 | |
| C2A (fixed to 20 June 2022) | 1.1761** | 425,000,000 | 425,000,000 | ||
| C2B (fixed to 20 June 2027) | 2.706** | 528,000,000 | 528,000,000 | ||
| C1A (fixed to 20 June 2029) | 3.043** | 350,000,000 | 391,300,000 | ||
| Total | £1,740,341,830 | €2,075,103,558 | €4,020,805,724 |
** then Euribor/Libor +4% fully covered by fixed rate swaps.
Lender: Channel Link Enterprises Finance Plc (CLEF), a debt securitisation vehicle created by the original lenders in August 2007