By Susanna Moon
Chicago, Oct. 31 – Scatec Solar ASA said it sold NOK 750 million of senior green bonds due November 2021 with a coupon of Nibor plus 475 basis points.
The issue was “significantly oversubscribed,” according to a company announcement.
Nordea Bank AB (publ), Filial i Norge and Swedbank Norge, Norwegian Branch of Swedbank AB (publ) are the joint lead managers.
Proceeds will be used to refinance the bonds due November 2018 with a coupon of Nibor plus 650 bps and for financing activities defined with a green bond framework, the company said.
Settlement is contingent upon obtaining bondholder approval at a meeting set for Nov. 6, which is expected to pass based on voting instructions, the company said.
The company said it has applied to list the bonds for trading on Oslo Børs.
Scatec Solar is an integrated independent power producer based in Oslo.
| Issuer: | Scatec Solar ASA
|
| Issue: | Senior green bonds
|
| Amount: | NOK 750 million
|
| Maturity: | November 2021
|
| Lead managers: | Nordea Bank AB (publ), Filial i Norge and Swedbank Norge, Norwegian Branch of Swedbank AB (publ)
|
| Co-manager: | ABN Amro Bank NV
|
| Coupon: | Nibor plus 475 bps
|
| Pricing date: | Oct. 31
|
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