European Energy to accept tenders of €92.55 million green securities

By Wendy Van Sickle

Columbus, Ohio, Jan. 19 – European Energy A/S announced the final results of its any-and-all cash tender offer for its €150 million senior callable subordinated green capital securities due 3020 (ISIN: DK0030470919) on Jan. 19, according to a press release.

The company said it received and plans to accept principal priority tenders in a total nominal amount of €92.55 million by the expiration of the offer at 4:15 a.m. ET on Jan. 19.

The company will not accept any tender instructions that are not principal priority tenders.

The offer started on Jan. 13 and was conditioned upon a new issue of euro-denominated callable subordinated green capital securities due 3023 for at least €75 million and new senior green bonds due 2026.

The company said at that time that it would accept all tenders from noteholders who subscribed to the new subordinated capital securities, to their allocation amount and that it would give second priority to tendering noteholders who subscribed to the green bonds.

The company announced that it priced €100 million of 10¾% callable subordinated green capital securities due 3023 and €75 million new senior green bonds due 2026 to be consolidated and form a single series with the company’s existing €75 million of green bonds due 2026.

The tender expiration time was concurrent with the close of books for the new capital securities.

Settlement is planned for Jan. 26.

Danske Bank A/S (liabilitymanagement@danskebank.dk), DNB Markets (bond.syndicate@dnb.no) and Nordea Bank Abp (nordealiabilitymanagement@nordea.com) are the joint bookrunners for the new issues, and dealer managers and tender agents for the tender offer.

The Soborg, Denmark, company builds solar and wind farms and energy storage facilities.

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