European Energy refinances green bonds, revolving credit line

Danish renewables developer European Energy A/S said on Thursday that it has successfully and fully refinanced its parent capital base, consolidating its financing into a single EUR-375-million (USD 404m) green senior bond and a EUR-100-million green revolving credit facility.

Previously, the company had EUR 292.5 million in green senior bonds and a EUR-100-million green revolving credit line. The interest rate of the new bond is variable rated with a margin of 3.75% plus a 3-month EURIBOR rate.

Each of the new financial instruments is part of European Energy’s new Green Finance Framework. The new green senior bond has a final maturity in November 2027 and is one of the largest Nordic high-yield bonds to be issued on NASDAQ Nordic. The prior ones were scheduled to mature in September 2025.

“The strong interest that we have encountered in this transaction reflects that the market sees our business as fundamentally solid, with a large growth potential and a strong green profile,” commented Jens-Peter Zink, Deputy CEO of European Energy.

(EUR 1.0 = USD 1.078)

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