UPDATE - Ørsted plans TWD-15bn green bond issue in Taiwan

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

Danish green energy major Ørsted (CPH:ORSTED) has issued TWD 15 billion (USD 523.1m/EUR 449.5m) worth of green unsecured senior bonds in a bid to support its offshore wind investments in Taiwan.

The company has completed the pricing of its placement, consisting of three tranches. It announced the proceeds from the sale will provide it with additional financing for the 900-MW Greater Changhua 1 & 2a cluster of offshore wind projects.

The new bonds were issued in local currency by Ørsted Wind Power TW Holding A/S. Details on the three separate tranches, all with a due settlement on November 13, are available in the table below.

	TWD 4 billion fixed rate green bond	TWD 3 billion fixed rate green bond	TWD 8 billion fixed rate green bond
Maturity date	November 13, 2027	November 13, 2030	November 13, 2040
Coupon (fixed until maturity)	0.60%	0.70%	0.98%
Price	100 % of the nominal amount	100 % of the nominal amount	100 % of the nominal amount
Listing	Taipei Exchange	Taipei Exchange	Taipei Exchange

“We’re very pleased with the continued support the Taiwanese investor community have shown Ørsted by supporting our financing of the Greater Changhua 1 & 2a project,” said Ørsted’s CFO Marianne Wiinholt.

BNP Paribas, Cathay United Bank, and CTBC Bank will act as mandated lead arrangers for the deal. The Danish firm noted that the transaction will not affect its financial guidance and investment forecast for 2020.

This is Ørsted’s second issuance of green bonds in Taiwan. Last year, the company completed a placement of TWD 12 billion worth of green bonds in the Asian country to back its offshore wind activities there.

(TWD 10 = USD 0.349/EUR 0.300)

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