TenneT Holding has successfully launched and priced a senior Green Bond issue of almost €4bn.
The €3.85bn issue has been split in four tranches of €1,250m (term: 4.5 years, coupon 1.625%), €1,000m (term: 7.5 years, coupon 2.125%), €750m (term: 11 years, coupon 2.375%) and €850m (term: 20 years, coupon 2.750%).
The launch was supported by active joint bookrunners ABN AMRO, BNP Paribas, Commerzbank, NatWest Markets, Santander and UniCredit.
TenneT’s chief financial officer Arina Freitag (pictured) said: “Green financing aligns perfectly with our role in facilitating the backbone of a secure, reliable, and zero-carbon energy system, as our work contributes towards national and international climate goals, in particular our home markets in the Netherlands and Germany.”
Proceeds will be used to invest in eligible green power transmission projects in the Netherlands and Germany focused on connecting large-scale offshore wind farms to the onshore electricity grid and investments in the onshore transmission grid with the main objective to increase the transmission of renewable energy.
Further details on these projects and project selection process is set out in TenneT’s Green Financing Framework dated March 2022, for which ISS ESG has provided a second party opinion to confirm the alignment with the ICMA Green Bond Principles.