ERG starts roadshow for €500 million five- to seven-year green bonds

By Sarah Lizee

Olympia, Wash., March 29 – ERG SpA plans to price €500 million of senior green bonds due in five to seven years, according to a market source.

The company mandated Banca IMI, Barclays, BNP Paribas, Credit Agricole CIB, Mediobanca and UniCredit as joint lead arrangers for the Regulation S no-grow deal, the company’s inaugural issue of green bonds.

The lead arrangers began a series of fixed income investor meetings in Europe on Friday to present the company’s green bond framework and provide a credit update. The new issue will follow, subject to market conditions.

The bonds would be issued under the company’s €1 billion euro medium-term note program.

FCA/ICMA stabilization applies.

ERG is the wind power operator in Genoa, Italy.

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