Clifford Chance

Clifford Chance advises Managers on Ahold Delhaize's issuance of €500 million Sustainability-Linked Notes listed on Euronext Dublin

Global law firm Clifford Chance advised the Managers on Ahold Delhaize's issuance of €500 million 3.250% per cent. rate Sustainability-Linked Notes due 2033.

BofA Securities, Deutsche Bank, ING, J.P. Morgan and Société Générale acted as Joint Lead Managers and ABN AMRO, Erste Group, IMI – Intesa Sanpaolo and Rabobank acted as Co-Managers (all together, the Managers).

The Notes are listed on Euronext Dublin and the proceeds will be used for general corporate purposes, including the refinancing of existing indebtedness.

The interest rate adjustment in respect of the Sustainability-Linked Notes is linked to the reduction of GHG emissions and food waste reduction. These key performance indicators (KPIs) and the relevant sustainability performance targets in relation thereto are set out in Ahold Delhaize's Sustainability-Linked Bond Framework.

This is the third Sustainability-Linked Note issued by Ahold Delhaize following issuances in 2021 and 2024 and complements other sustainable debt instruments issued in recent years. These financings together reinforce the continued alignment of the company’s funding strategy to its sustainability strategy and overall ESG ambitions.

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 Dewi Walian, Tineke Kothe and Lisa van der Veldt (Global Financial Markets) and Nolan Groenland, Robin Houtveen and Johan Anton Niesten (Tax).