Chicago, Aug. 29 – SSE plc sold €750 million of 4% eight-year green bonds (Baa1/BBB+) on Tuesday, a sellside source reported.
The notes priced at 99.966 to yield 4.005%, or at mid-swaps plus 90 basis points. Price talk started the notes in the mid-swaps plus 120 bps area.
The notes may be redeemed early with a Bunds plus 25 bps make-whole premium until the three months before the maturity date when they can be called at par.
NatWest Markets (billing and delivery), Barclays, BBVA, BNP Paribas and Morgan Stanley were active bookrunners.
Proceeds will be used for eligible green projects.
The bonds will be listed in London.
The order book was more than €1.95 billion on final terms, in from €2.5 billion at guidance.
SSE is an energy company based in Perth, Scotland.
| Issuer: | SSE plc
|
| Amount: | €750 million
|
| Issue: | Senior green bonds
|
| Maturity: | Sept. 5, 2031
|
| Bookrunners: | NatWest Markets (billing and delivery), Barclays, BBVA, BNP Paribas and Morgan Stanley
|
| Green adviser: | BBVA
|
| Coupon: | 4%
|
| Price: | 99.966
|
| Yield: | 4.005%
|
| Spread: | Mid-swaps plus 90 bps
|
| Call features: | Make-whole call at Bunds plus 25 bps; three-month par call
|
| Change of control: | At par
|
| Trade date: | Aug. 29
|
| Settlement date: | Sept. 5, 2031
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 120 bps area
|
| ISIN: | XS2675685700
|
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