Ørsted pockets EUR 1.35bn from two-tranche green bond offering

Source: Twitter, @OrstedUK

June 8 (Renewables Now) - Danish green energy major Ørsted (CPH:ORSTED) said on Tuesday it has secured EUR 1.35 billion (USD 1.45bn) from the sale of green bonds to back its goal of expanding its global renewable energy platform to 50 GW by 2030.

The issue of unsecured green senior bonds consisted of two tranches of EUR 600 million and EUR 750 million, respectively. Maturing in June 2028, the bonds in the smaller tranche have a fixed coupon rate of 2.250%. Securities in the EUR-750-million tranche, meanwhile, have a fixed coupon of 2.875% and expire in June 2033.

All bonds are planned to be listed on the Luxembourg stock exchange.

Ørsted noted that the issuance will have no effects on its financial outlook for 2022 and on investments planned for the year.

As part of a plan to accelerate its global build-out of renewable energy, Ørsted unveiled its 50-GW goal last summer and committed to investing around DKK 350 billion (USD 50.4bn/EUR 47m) in green energy from 2020 to 2027.

(EUR 1.0 = USD 1.071)

(DKK 1.0 = USD 0.144/EUR 0.134)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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