TenneT Holding B.V. (issuer scores A3/A-, secure outlook) yesterday efficiently launched and priced a senior Inexperienced Bond subject of EUR 3.85 billion, cut up in 4 tranches of EUR 1,250 million (time period: 4.5 years, coupon 1.625%), EUR 1,000 million (time period: 7.5 years, coupon 2.125%), EUR 750 million (time period: 11 years, coupon 2.375%) and EUR 850 million (time period: 20 years, coupon 2.750%) with the help of 6 energetic Joint Bookrunners: ABN AMRO, BNP Paribas, Commerzbank, NatWest Markets, Santander and UniCredit.
Arina Freitag, TenneT’s Chief Monetary Offier stated: “Inexperienced financing aligns completely with our function in facilitating the spine of a safe, dependable, and zero-carbon vitality system, as our work contributes in direction of nationwide and worldwide local weather targets, specifically our dwelling markets within the Netherlands and Germany.”
Proceeds will probably be used to put money into eligible inexperienced energy transmission tasks within the Netherlands and Germany targeted on connecting large-scale offshore wind farms to the onshore electrical energy grid and investments within the onshore transmission grid with the principle goal to extend the transmission of renewable vitality. Additional particulars on these tasks and mission choice course of is about out in TenneT’s Inexperienced Financing Framework dated March 2022, for which ISS ESG has supplied a Second Get together Opinion to substantiate the alignment with the ICMA Inexperienced Bond Rules.
Investing in inexperienced vitality
With annual deliberate investments anticipated to develop to at the very least EUR 6 billion by 2025, TenneT is closely investing within the vitality transition in Europe, making an essential contribution to satisfy nationwide local weather targets and to attach everybody to a brighter vitality future, while sustaining a strong monetary place.
Nearly all of TenneT’s investments are straight associated to the rise in renewable vitality sources, comparable to wind and photo voltaic vitality. Round 2030 TenneT expects to have realized at the very least 38 gigawatt (GW) of connection capability for offshore wind farms within the Dutch and German elements of the North Sea.
