Ørsted issues €1.25bn of green capital securities and bonds
Danish renewable-energy company Ørsted (previously Dong Energy) is issuing €1.25bn ($1.47bn) in green capital securities and bonds, allowing it to refinance securities issued in 2013. The offering is split between €500m of green hybrid capital securities, to be listed on the Luxembourg stock exchange, and green senior bonds listed on the London Stock Exchange. The settlement is 24 November.
Danish offshore wind developer Ørsted A/S (CPH:ORSTED), formerly known as Dong Energy, is issuing EUR 500 million (USD 589m) in green hybrid capital securities and EUR 750 million in green senior bonds.

The settlement date for both issues, which have been heavily oversubscribed, is November 24, the company said Thursday.

The issuances will help extend the duration of Ørsted’s senior debt maturity profile and will allow it to refinance EUR 500 million in 4.875% hybrid capital securities issued in 2013. Earlier on Thursday the company said its new Green Bond Framework has received a second opinion with "a Dark Green shading" from CICERO.

Details on the issuances are available in the table.

Details green hybrid security green senior bond Nominal amount EUR 500 million EUR 750 million Maturity date November 24, 3017 November 26, 2029 Coupon 2.25% - fixed till 1st par call date Nov 24, 2024 1.5% - fixed until maturity Price 99.203% of nominal amount 98.840% of nominal amount Oversubscribed more than 5x more than 2.3x Listing Luxembourg Stock Exchange (official list) and inscribe on the Luxembourg Green Exchange Platform (LGX) London Stock Exchange

Ørsted noted that these transaction do not change its financial guidance for 2017 or the announced expected investment level for the year.

(EUR 1 = USD 1.18)

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