By Lisa Kerner
Charlotte, N.C., Nov. 13 Verbund AG priced a 500 million fixed-rate green bond due 2024 at 1.5%.
The bond will be issued on Nov. 20, according to new information announced on Friday.
As previously reported, proceeds will be used to finance and refinance projects in Austria and Germany related to renewable energies, including water and wind projects.
Verbund will sell the bond in denominations of 100,000.
The green bond is rated Baa1/ BBB+.
oekem research AG gave Verbund a score of B- and prime status in its latest corporate rating, which is viewed by sustainable investors as a quality seal for bond issuers, an oekem report stated.
Commerzbank, J.P. Morgan, Raiffeisen Bank International, SG CIB and UniCredit Bank Austria are lead managers.
Verbund is a Vienna-based electricity company.
| Issuer: | Verbund AG
|
| Issue: | Fixed-rate green bond
|
| Amount: | 500 million
|
| Coupon: | 1.5%
|
| Maturity: | Nov. 20, 2024
|
| Denominations: | 100,000
|
| Lead managers: | Commerzbank, J.P. Morgan, Raiffeisen Bank International, SG CIB and UniCredit Bank Austria
|
| Announced: | Nov. 13
|
| Priced: | Nov. 14
|
| Settlement: | Nov. 20
|
| Ratings: | Baa1/ BBB+
|
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