October 22 (Renewables Now) - The European Bank for Reconstruction and Development (EBRD) has invested EUR 18 million (USD 20m) in a recent green bond issuance by Greek renewable power producer Terna Energy SA (ATH:TENERGY).
The bank said in a statement today that its participation in Terna Energy’s successful issuance of a seven-year, EUR-150-million green bond should boost market confidence and help build scale and critical mass for listed bond issuances. The proceeds from the transaction will be used to finance additional investments in Greek renewables.
Ernst & Young has verified that the issued financial instrument meets the Climate Bonds Initiative’s classification as a certified climate bond.
Terna Energy closed the public offer on October 18, allocating 65% of the bonds to private investors and the rest to institutional investors. The total valid demand amounted to EUR 684 million.
Eurobank Ergasias SA and National Bank of Greece SA served as lead underwriters.
(EUR 1.0 = USD 1.114)