- Our company and our core mission
- Our project: Grand Paris Express
- Our business model
- Our main credit features
- Our financial strategy
- Financing program
- Annual reports
- Press Releases
Société du Grand Paris, a 100 % state owned company.
- Created by an Act of parlia ment as an " EPIC "
- Established by Law No. 2010-597 of 3 June 2010 on Grand Paris and governed by Decree No. 2010-756 of 7 July 2010;
- A strategic public operator for the Paris city area, critical for France’s attractiveness;
- One of France’s major public investor.
Our core mission: created by the State to design, develop and finance the Grand Paris Express project and contribute to the existing network modernisation
Europe’s biggest ongoing infra structure project
- 4 additional metro lines around Paris
- 100 % automatic - 200 km
- 68 stations - 90 % underground
- 2 million passengers everyday
- 18 million m2 of real estate development opportunities
- the ambition to become the world’s most digitally advanced metro (high-speed fiber-optic network, data centers, wi-fi…)
Société du Grand Paris share the COP21 objectives.
A global long term financing model secured by dedicated fiscal resources directly allocated by the State to SGP, completed:
- During construction, by subsidies (EU…)
- During operation, by our own resources (Track Access Charges, revenues from assets…)
Designer and infrastructure owner: Société du Grand Paris (through the life of the infrastructure)
Operator: to be selected by Île-de-France Mobilités (through a competitive bidding process)
A top quality issuer:
- as an EPIC, not subject to private sector bankruptcy law;
- a strong support and control from the French state;
- socially and environmentally responsible.
Société du Grand Paris, as a state operator, is subject, for its management, to the provisions of the decree of November 7, 2012 related to the budgetary management and public accounting
A new issuer in the international debt capital markets from money market to long term debt instruments to match its long dated infrastructure asset.
- Recurrent: up to 30 billion € of debt with expected annual funding program more than 2 billion € (per year over the next 5 years);
- Investors driven: minimum liquidity, gradual euro credit curve creation completed with tailored made private placements, investors base and funding diversification, secured risk management policies with no forex exposure…
The first contracts were concluded with the Caisse des Dépôts and the European Investment Bank. Others with take the form of bond issues in the international capital markets (through an EMTN program), completed to manage the day to day treasury operations, by money market instruments (through a NeuCP program).
Long term program EMTN:
1) Base prospectus
2) Final Terms
- Final terms execution version S1 TR1 (18 october 2018)
- Final terms execution version S2 TR1 (22 november 2018)
- Final terms execution version S3 TR1 (11 february 2019)
- Final terms execution version S4 TR1 (15 march 2019)
- Final terms execution version S5 TR1 (18 march 2019)
- Final terms execution version S6 TR1 (12 april 2019)
- Final terms execution version S7 TR1 (12 april 2019)
- Final terms execution version S8 TR1 (29 may 2019)
- Final terms execution version S9 TR1 (13 february 2020)
- Final terms execution version S10 TR1 (6 april 2020)
- Final terms execution version S8 TR2 (5 may 2020)
- Final terms execution version S9 TR2 (25 june 2020)
3) Supplements EMTN
From july 2018 to july 2019:
From july 2019 to july 2020:
4) Green bonds
- Investors presentation
- Green Bond Program Framework
- Second Opinion
- Confirmation letter of approval for request for Climate Bond Standards certification
- Report Green Bonds
- Certification Climate Bond
- Post issuance Climate Bond Standards certification
Short term program Neu CP:
- Name of the issuer: Société du Grand Paris
- Type of program: French commercial paper
- Program size: 3 billion € Guarantor: None
- Rating of the program: Prime-1 Moody’s
- Issuing and paying agent: CACEIS
- Dealers: BNPP, CACIB, Natixis & SG
- Purpose of the program: General funding requirements
- Currencies of issue: € and any other currency authorised
« SGP's Aa2/Prime-1 ratings reflect the very strong links with its owner, the Government of France (Aa2 stable), its clear public policy mandate as well as its adequate funding available to face future fixed capital investment needs. »
« Fitch Ratings classifies Société du Grand Paris (SGP) as a government-related entity (GRE) of the state of France (AA/Stable) and equalises its ratings with those of the sovereign. Fitch Ratings has assigned Société du Grand Paris (SGP) Long-Term Local and Foreign Currency Default Ratings (IDR) of "AA" with a Stable Outlook and a Short-Term Foreign Currency IDR of 'F1+'. Fitch has also assigned 'AA'/'F1+' to SGP's EUR5 billion EMTN programme and a 'F1+' rating to SGP's EUR3 billion commercial paper program (Neu CP) »
- Financial report 2019 (in french)
- Société du Grand Paris succesfully launches the longest green bond ever issued, for a record amount
- Société du Grand Paris 30-year EUR 1 billion Green Bond - 24 mai 2019
- La Société du Grand Paris récompensée pour ses émissions d’obligations vertes par le Climat Bonds Initiative - 15 mars 2019 (in french)
- Société du Grand Paris 15-year EUR 2 billion Green Bond - 13 march 2019
- Société du Grand Paris launched their Inaugural 10-year EUR 1.75 billion Green Bond - 11 october 2018
- La Société du Grand Paris met en place un programme EMTN 100 % vert - 23 juillet 2018 (in french)
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