By Lisa Kerner
Charlotte, N.C., May 28 TenneT Holding BV launched and priced 1 billion of bonds in an offer that was twice oversubscribed.
The companys inaugural green bond issue will be issued as follows:
500 million of 0.875% six-year green bonds; and
500 million of 1.75% 12-year green bonds.
Proceeds will be used to finance three projects to transmit renewable electricity from offshore wind farms.
The issue is supported by HSBC Bank plc, ING Bank NV, Royal Bank of Scotland, Lloyds TSB Bank plc and Rabobank, according to a news release.
I expect that this will be the first of a series of green bond issues for TenneT, chief financial officer Otto Jager said in the news release.
TenneT published its Green Bonds Framework in April in collaboration with oekom Research AG.
Based in Arnhem, the Netherlands, TenneT is the operator of the Dutch electricity transmission system.
Issuer: | TenneT Holding BV
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Issue: | Green bonds
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Amount: | 1 billion
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Bookrunners: | HSBC Bank plc, ING Bank NV, Royal Bank of Scotland, Lloyds TSB Bank plc and Rabobank
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Announcement date: | May 28
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Bonds due 2021
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Amount: | 500 million
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Coupon: | 0.875%
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Maturity: | Six years
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Notes due 2027
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Amount: | 500 million
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Coupon: | 1.75%
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Maturity: | 12 years
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