ABP presents plan to turn Port of Barrow into renewables hub
Sep 18, 2024 14:41 CESTDanish energy company Ørsted A/S (CPH:ORSTED) yesterday said it has completed the pricing of its latest unsecured green senior bonds issuance, amounting to GBP 900 million (USD 1.17bn/EUR 1.05bn).
The proceeds will go for offshore wind investments as part of Ørsted’s 2025 green growth target, among which is the 1,386-MW Hornsea 2 wind project in the UK.
The green bonds will be issued in three tranches, two with a fixed-rate coupon and one inflation-linked tranche (CPI) with maturity in 2034. The table contains details of the tranches, all of which have settlement on May 16, 2019.
Details | Tranche 1 | Tranche 2 | Tranche 3 |
Nominal amount (GBP million) | 350 | 300 | 250 |
Maturity date | May 17, 2027 | May 16, 2033 | May 16, 2034 |
Index | N/A | N/A | UK Consumer Price Index (for all items) published by the Office for National Statistics (CPI) |
Coupon | 2.125% (fixed until maturity) | 2.5% (fixed until maturity) | 0.375% |
Price (in % of nominal amount) | 99.551% | 98.563% | 99.927% |
Orderbook | > 3.3x oversubscribed | > 1.6x oversubscribed | > 1.2x oversubscribed |
The Danish firm has hired Barclays Bank PLC, Goldman Sachs International, Morgan Stanley & Co International PLC and NatWest Market PLC as joint lead managers on the issuance. All bonds will be listed on the Luxembourg Stock Exchange.
ABP presents plan to turn Port of Barrow into renewables hub
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