January 10 (Renewables Now) - German utility E.on SE (ETR:EOAN) has raised EUR 1 billion (USD 1.11bn) in a green bond sale as part of a larger fundraising initiative that seeks to refinance existing debt and fund new projects.
The company said on Thursday that the green bond offering comes together with two additional bond placements, with the three transactions bringing EUR 2.25 billion in total. All of them were met with “very high investor demand.”
Details of the three tranches are available in the table below.
|EUR 1 billion - green bond||September 2027||0.375%|
|EUR 750 million||December 2023||0%|
|EUR 500 million||December 2030||0.750%|
E.on said it will use the proceeds to refinance all bonds maturing in 2020 and to finance sustainable infrastructure and energy efficiency projects, including renewables as described in the company’s green bond framework.
The bond sale was carried out by an international bank consortium, with BNP Paribas, Deutsche Bank, JP Morgan and Santander serving as active bookrunners.
In August 2019, the German company raised EUR 1.5 billion through the issuance of green bonds.
(EUR 1.0 = USD 1.110)