By William Gullotti
Buffalo, N.Y., Sept. 22 – Smakraft AS (NCR: BBB-/BB) issued €50 million of five-year secured green bonds on Sept. 18, according to a notice on Friday.
The bonds bear interest at Euribor plus 260 basis points.
ABG Sundal Collier, DNB Markets, Nordea Markets and SEB were the joint lead managers for the sale. According to the notice, the offering was “substantially” oversubscribed.
Proceeds will be used to call the company’s remaining senior secured green bonds due Nov. 2, 2023 (ISIN: NO0010835192), which were issued Nov. 1, 2018 in an amount of €50 million. Remaining proceeds will be used for general corporate purposes.
Smakraft is a Norwegian hydroelectric power company that owns and operates over 221 small-scale power plants.
| Issuer: | Smakraft AS
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| Amount: | €50 million
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| Issue: | Senior secured green bonds
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| Tenor: | Five years
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| Bookrunners: | ABG Sundal Collier, DNB Markets, Nordea Markets and SEB
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| Coupon: | Euribor plus 260 bps
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| Trade date: | Sept. 18
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| Settlement date: | Oct. 6
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| Rating: | NCR: BBB-/BB
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