Orsted Raises $660m Green Finance

Maritime Activity Reports, Inc.

November 27, 2019

Image: Ørsted

Image: Ørsted

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.

Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News