European Energy issues EUR 60 million through a tap issue

Today, European Energy issued EUR 60 million at the price of 104.00% of par, plus accrued interest, in a tap issue of its 2019/2023 green bond. The tap brings the total size of the issue to EUR 200 million. The tap was oversubscribed by almost double with a total order book EUR 116.5 million.

Knud Erik Andersen, CEO of European Energy said:

“Today’s transaction was very successful. We quickly built a strong order book, and it is very pleasing to see such solid investor appetite for our bond. The funds will allow us to accelerate our plans and increase our activities across our markets. In a few years we expect to double our construction activity and build more than 1 GW of renewable generation capacity each year.”

The tap issue follows the June issue of European Energy’s green bond with a coupon of 5.35 per cent. The new issue has a yield of 4.226 per cent. The bond was the first from a non-financial institution listed on Nasdaq OMX Sustainable Debt Index.

Joint bookrunners for the tap transaction were Nordea and DNB.

For more information or interviews with senior management please contact Head of Communication, Joachim Steenstrup. E: jst@europeanenergy.dk, T: +45 51624815

Joachim Steenstrup