Ørsted A/S has today priced subordinated green hybrid capital securities of EUR 500 million with a maturity in 3017 and first par call date on 24 November 2024 and green senior unsecured bonds of EUR 750 million with maturity in 2029. Both issues have settlement date on 24 November 2017.
The purpose of the new issuances is primarily to extend the duration of Ørsted A/S’ senior debt maturity profile and to refinance the existing 4.875% EUR 500 million hybrid capital securities issued in 2013, with first par call date on 8 July 2018.
Key details of the new green hybrid security:
- Nominal amount: EUR 500 million
- Maturity date: 24 November 3017
- First par call date: 24 November 2024
- Issue spread over seven-year Euro Mid-Swap Rate: 189.9bp
- Fixed coupon rate until first par call date: 2.25%
- Price: 99.203% of nominal amount
- Orderbook: more than 5x oversubscribed
- Listing:Luxembourg Stock Exchange (official list) and inscribe on the Luxembourg Green Exchange Platform (LGX)
Key details of the new green senior bond:
- Nominal amount: EUR 750 million
- Maturity date: 26 November 2029
- Coupon (fixed until maturity): 1.5%
- Price: 98.840% of nominal amount
- Orderbook: more than 2.3x oversubscribed
- Listing: London Stock Exchange
The information in this announcement does not change Ørsted’s financial guidance for the financial year 2017 or the announced expected investment level for 2017.
+45 99 55 95 52
Henrik Brünniche Lund
+45 99 55 97 22
Finance DCS, Treasury & Risk Management
Allan Bødskov Andersen
+45 99 55 97 69
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs and operates offshore wind farms, bioenergy plants and innovative waste-to-energy solutions and provides smart energy products to its customers. Headquartered in Denmark, Ørsted employs 5,600 people. Ørsted’s shares are listed on Nasdaq Copenhagen (Orsted). In 2016, the company’s revenue was DKK 61 billion (EUR 8.2 billion). For more information on Ørsted, visit orsted.com or follow us on Facebook, LinkedIn, Instagram and Twitter.