Statkraft gets strong interest in EUR-500m green bond sale
- Norwegian power business Statkraft A/S has actually issued EUR 500 million (USD 495.8 m) well worth of elderly unsecured green bonds to secure funds for renewable resource and clean transportation projects.
The transaction was oversubscribed virtually 10 times, Statkraft said on Tuesday. It is the first offering of Euro-denominated green bonds for the group as part of its Euro Medium Term Note (EMTN) programme.
With maturation in September 2029, the bonds have a fixed coupon of 2.875%. They are prepared to be provided on Euronext Dublin.
Statkraft means to make use of the fresh capital to fund eligible projects under its Green Finance Framework, under which it intends annual investments of greater than NOK 13 billion (USD 1.29 bn/EUR 1.3 bn) in renewable resource in the direction of 2025. The framework concentrates on investments in hydropower, wind and also solar projects and also associated facilities, as well as clean transportation initiatives such as charging terminals for electrical vehicles (EVs).
Nordea, Santander, Societe Generale and also UniCredit acted as joint bookrunners in the bond offering. The deal comes on the heels of a NOK-5.5-billion sale of senior unprotected green bonds, which Statkraft finished in June.