November 16 (Renewables Now) - Ørsted A/S (CPH:ORSTED), formerly known as Dong Energy, plans to issue green senior bonds and green hybrid capital securities to extend the duration of its senior debt maturity profile and refinance EUR 500 million (USD 590m) in securities issued in 2013.
The final size and pricing will be determined once the book-building process is completed, the Danish offshore wind developer said Thursday. It will use the proceeds to finance environmentally friendly investments in line with its new Green Bond Framework, which has received a second opinion with "a Dark Green shading" from CICERO.
Deutsche Bank will act as structuring advisor and joint bookrunner alongside Barclays, BNP Paribas and Nordea as joint bookrunners on the green hybrid capital security transaction. As for the green bond transaction, BNP Paribas, Deutsche Bank, Rabobank and SEB will serve as joint bookrunners.
SEB has been appointed as the green structural advisor for both transactions.
Also today, Ørsted invited holders of its outstanding Eurobonds to tender these for purchase. More specifically, the offer is for holders of the 6.5% notes due May 7, 2019, 4.875% notes due December 16, 2021, and 2.625% notes due September 19, 2022. The amount currently outstanding totals EUR 1.27 billion.
(EUR 1 = USD 1.18)