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)