Clifford Chance

Clifford Chance advises PostNL on its inaugural issuance of €300 million Sustainability-Linked Notes listed on Euronext Amsterdam

Global law firm Clifford Chance advised PostNL, a leading e-commerce and postal service provider in, to and from Benelux, on its €300 million 4.750 per cent. fixed rate Sustainability-Linked Notes due 2031. The Notes are listed on Euronext Amsterdam and the proceeds will be used for general corporate purposes. The involved Joint Lead Managers are BNP Paribas, BofA Securities and ING.

The interest rate adjustment in respect of the Sustainability-Linked Notes is linked to the reduction of GHG emissions and the increase of percentage of females in senior management positions. These key performance indicators (KPIs) and the relevant sustainability performance targets in relation thereto are set out in PostNL’s Sustainability-Linked Financing Framework.

This transaction builds on Clifford Chance's market-leading Debt Capital Markets practice and expertise in Sustainability Linked Bonds. The Clifford Chance team consisted of Jurgen van der Meer, Dewi Walian, Helen Liefting and Jelle Kremers (Global Financial Markets) and Robin Houtveen and Johan Anton Niesten (Tax).