By Rebecca Melvin
Concord, N.H., June 1 – Statkraft AS (A-/BBB+) announced that it has issued NOK 5.5 billion senior green bonds in three tranches, including fixed- and floating-rate five-year notes and fixed-rate 10-year notes.
The deal size exceeded the amount the company had expected to price, which was NOK 3 billion to NOK 5 billion.
The NOK 1.5 billion tranche of five-year floaters bears interest at three-month Nibor plus 90 basis points.
The NOK 1 billion tranche of five-year fixed-rate notes came with a 3.625% coupon.
The NOK 3 billion of 10-year notes were issued with a fixed coupon of 3.93%.
The transaction was substantially oversubscribed, according to a notice published by the London Stock Exchange.
Proceeds will be allocated to eligible projects in accordance with Statkraft’s green finance framework.
Danske Bank, DNB Markets, Handelsbanken Capital Markets and SEB were joint bookrunners.
SEB has acted as structuring adviser for Statkraft’s green finance framework.
The hydropower company is based in Oslo.
| Issuer: | Statkraft AS
|
| Amount: | NOK 5.5 billion
|
| Issue: | Senior green bonds
|
| Bookrunners: | Danske Bank, DNB Markets, Handelsbanken Capital Markets and SEB
|
| Announcement date: | June 1
|
|
|
| Five-year floaters
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| Amount: | NOK 1.5 billion
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| Maturity: | Five years
|
| Coupon: | Nibor plus 90 bps
|
|
|
| Five-year notes
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| Amount: | NOK 1 billion
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| Maturity: | Five years
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| Coupon: | 3.625%
|
|
|
| 10-year notes
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| Amount: | NOK 3 billion
|
| Maturity: | 10 years
|
| Coupon: | 3.93%
|
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