SSE unit issues GBP 350m in green bonds

The Stronelairg wind farm. Image by SSE (www.sse.com)

September 23 (Renewables Now) - Scottish Hydro Electric Transmission plc (SHET), a unit of Scotland-based energy company SSE plc (LON:SSE), has completed its first green bond outing with the issuance of GBP 350 million (USD 435.4m/EUR396.3m).

The euro bond matures in September 2035 and pays a coupon of 2.25%, SSE said Friday. For SSE plc, the new issuance is the group’s third green bond in three years.

The proceeds from the issuance will allow both SHET and SSE to continue to invest in renewable energy infrastructure, according to a securities filing.

"This funding is consistent with our commitment to maintain a strong balance sheet and strong market rating, and has been secured with a longer tenor at very attractive pricing," said Gregor Alexander, Finance Director of SSE.

(GBP 1.0 = USD 1.24/EUR 1.13)

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