Denmark-based energy giant successfully issued green hybrid capital securities for €600m ($660m) to refinance existing securities issued in 2015.
The latest issue will have a maturity in 3019 and first call option after eight years, the Danish energy company said.
Investments undertaken by Ørsted A/S in green renewable energy projects will be allocated to the new issue corresponding to the amount issued in accordance with Ørsted’s Green Finance Framework, which has received a second opinion with a Dark Green shading from Cicero.
Ørsted A/S is rated Baa1, stable outlook, by Moody’s, BBB+, stable outlook, by Standard & Poor’s, and BBB+, stable outlook, by Fitch.
Ørsted A/S’ Green Hybrid Capital Securities will receive the rating of Baa3 by Moody’s, BB+ by Standard and Poor’s and BBB- by Fitch.
On the green hybrid capital security transaction, J.P. Morgan Securities Plc. will act as Global Coordinator and Joint Lead Manager alongside Citigroup Global Markets Limited, Danske Bank A/S and MUFG Securities EMEA Plc.
Ørsted develops, constructs and operates offshore and onshore wind farms, solar farms and energy storage facilities, bioenergy plants and provides energy products to its customers.