September 24 (Renewables Now) - Danish renewables developer European Energy A/S today issued EUR 60 million (USD 66m) in green bonds in a tap that was oversubscribed almost twice.
As announced earlier in the day, the company was considering consolidating the new bonds from the tap issue with its existing EUR-140-million EURIBOR (3 months) +5.35% senior secured callable floating rate green bonds 2019/2023 to form a single series.
The new issue, now implemented, had a total order book of EUR 116.5 million and a yield of 4.226%, a press statement says.
“We quickly built a strong order book, and it is very pleasing to see such solid investor appetite for our bond. The funds will allow us to accelerate our plans and increase our activities across our markets,” stated CEO Knud Erik Andersen. He added that the company expects to double its construction activity and install over 1 GW of renewables annually over the next few years.
DNB Markets, a part of DNB Bank ASA, Sweden Branch and Nordea Bank Abp acted as joint lead managers.
(EUR 1.0 = USD 1.100)