Statkraft issues NOK 1.15bn of bonds

Norwegian state-owned utility Statkraft AS said Monday it has issued NOK 1.15 billion (USD 148m/EUR 131m) of bonds, without providing details on the use of proceeds.

The company issued NOK 700 million of 5-year bonds with a floating rate coupon equal to 3 months NIBOR plus 0.60% per year, and NOK 450 million of 10-year bonds with a fixed annual coupon of 3.12%.

The bonds are being issued under Statkraft's EMTN programme and will be listed on Oslo Stock Exchange.

Statkraft’s consolidated power capacity amounts to 16.4 GW, including 13.3 GW of hydropower, 488 MW of wind and other sources. Earlier this month the firm said it has decided not to invest in several wind projects in central Norway totalling 1 GW as it had determined they will not be profitable as initially expected.

(NOK 10 = USD 1.286/EUR 1.141)

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