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Orsted Raises $660m Green Finance

Image: Ørsted

Laxman Pai

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.

Nov 27, 2019

 

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