UPDATE - Ørsted issues TWD 12bn of green bonds in Taiwan

The Formosa I offshore wind park in Taiwan. Source: Swancor

November 5 (Renewables Now) - Ørsted A/S (CPH:ORSTED) has completed the pricing of TWD 12 billion (USD 394.8m/EUR 356m) of green bonds it is issuing to support offshore wind investments in Taiwan.

The Danish energy major said in a statement that this is Taiwan’s first ever green bond issuance in local currency by a foreign corporate. Ørsted CFO Marianne Wiinholt commented that it is an important step in the financing of the 900-MW Greater Changhua 1 & 2a cluster of offshore wind projects.

The green bonds are issued in two tranches, details of which are available in the following table.

  TWD 4 billion fixed rate green bond TWD 8 billion fixed rate green bond
Maturity date November 19, 2026 November 19, 2034
Coupon (fixed until maturity) 0.92% 1.50%
Price 100% of the nominal amount 100% of the nominal amount
Listing Taipei Exchange Taipei Exchange

Both tranches will be settled on November 19, 2019.

“The green bond issuance today demonstrates our ambition to build strong ties with local financial institutions and to create an active green bond market to support the long-term development of the offshore wind industry in Taiwan,” said Matthias Bausenwein, president of Ørsted Asia Pacific.

(TWD 10 = USD 0.329/EUR 0.297)

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