UPDATE - Argentina's Genneia raises USD 33m in green bond issue

Argentina’s Genneia placed two green notes for a total of USD 33 million (EUR 30.1m) in its March 6 bond issue, surpassing its initial target of USD 10 million.

The power company said on Thursday it had received bids for over USD 52 million, showcasing the market’s trust and strengthening its position as the issuer of sustainable bonds in Argentina.

Genneia has so far issued around USD 740 million worth of bonds in Argentina’s SVS (Social, Green and Sustainable) bond market, it said.

In the March 6 issuance, Genneia tendered two classes of green notes. One is denominated and payable in US dollars, with a fixed interest rate of 6.25% and maturing in March 2027. The other is denominated in US dollars and payable in pesos, maturing in March 2026. The interest rate is fixed and set at 5.0%.

The funds raised from the tender will be used to finance new renewable wind and solar projects.

(USD 1.0 = EUR 0.913)

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