By Lisa Kerner
Charlotte, N.C., June 3 – Shanks Group plc closed the subscription period for its green bond issue to retail investors in Belgium and Luxembourg.
The company will issue €100 million of green bonds on June 16, according to a news release.
The new bonds will carry a gross coupon of 3.65% payable annually for a period of seven years from June 16.
Maturity is expected to be June 16, 2022.
Shanks announced in May plans to raise up to €150 million with the green bond issue.
Proceeds will be used to finance the company’s investment in sustainable infrastructure.
As previously reported, the bonds will be listed on the main market of the London Stock Exchange.
Shanks said in May the subscription period were run from May 28 to June 11.
BNP Paribas Fortis and KBC Bank are joint lead managers.
The waste-to-energy company is based in Milton Keynes, England.
| Issuer: | Shanks Group plc
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| Issue: | Green bonds
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| Amount: | €100 million
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| Maturity: | June 16, 2022
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| Coupon: | 3.65%
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| Price: | 101.875
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| Yield: | 3.345%
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| Lead managers: | BNP Paribas Fortis, KBC Bank
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| Pricing date: | May 26
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| Settlement date: | June 16
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