By Rebecca Melvin
New York, March 17 – SSE plc subsidiary SSEN Transmission has issued £500 million of bonds in two tranches due in 2028 and 2036, according to a company release.
The £250 million notes due March 2028 priced with a 1.5% coupon, and the £250 million of notes due March 2036 priced with a 2.125% coupon.
The eurobond issue is SSEN Transmission’s second green bond and SSE’s fourth in five years, according to the release. The company noted that SSE has also set out a new framework for issuing sustainability-linked bonds, so that it will be able to issue sustainable bonds in addition to green bonds in the future.
The proceeds are earmarked to fund transmission infrastructure investments to accommodate increased renewable generation in line with the United Kingdom’s objective to use enough offshore wind to power every home with renewable energy by 2030.
BBVA advised SSE on the green bond issue.
SSE is a British energy company based in Perth, Scotland. SSEN Transmission owns, operates and develops the electricity transmission system in the north of Scotland.
| Issuer: | SSEN Transmission
|
| Issue: | Green bonds
|
| Amount: | £500 million
|
| Announcement date: | March 17
|
|
|
| 2028 bonds
|
| Amount: | £250 million
|
| Maturity: | March 2028
|
| Coupon: | 1.5%
|
|
|
| 2036 bonds
|
| Amount: | £250 million
|
| Maturity: | March 2036
|
| Coupon: | 2.125%
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
