Vena Energy places maiden USD-325m green bond

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March 2 (Renewables Now) - Singapore-based Vena Energy has issued a USD-325-million (EUR 294.6m) offering of green bonds, the renewables developer and independent power producer said on Thursday.

The sale of the fixed-rate green bonds is the company’s inaugural placement of such securities and the first USD-denominated issuance from a Singaporean firm. The bonds bear an interest of 3.133% and mature in five years.

Funds from the transaction will go to refinance existing debt related to the development, construction and operation of renewables energy projects in the Asia-Pacific, including solar photovoltaic (PV), concentrated solar power (CSP), onshore and offshore wind and hydropower schemes.

Vena Energy, formerly known as Equis Energy, said that the roadshows were met with “positive reception” from global investors in both Asia and Europe.

The green bond was rated BBB- by Standard & Poor’s and is listed on the Singapore stock exchange. Credit Agricole CIB, DBS Bank Ltd, ING and MUFG served as joint coordinators and lead managers of the sale. Among the other joint lead managers were ABN Amro, Banca IMI, BNP Paribas and SMBC Nikko.

(USD 1.0 = EUR 0.906)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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