Nordex has placed a promissory note worth €550m with national and international investors to finance the acquisition of Acciona Windpower.
The German company said the transaction is funded on a medium and long-term basis, with part of the proceeds also going to repay a corporate bond maturing in April.
The banking syndicate comprises Bayerische Landesbank, BNP Paribas, Commerzbank, HSBC and UniCredit.
Nordex said the promissory note has been designated ‘green’ by the Climate Bond Standard Executive Board following an expert opinion by DNV GL Business Assurance.
This is because the proceeds are being used “solely for purposes with a positive impact on climate and environmental protection”, Nordex said. Previously, only conventional ‘green’ bonds had received this certification, it added.
The bonded loan is being issued in tranches of three, five, seven and 10 years with fixed or variable coupons. Depending on the tranche, the coupon on the issue date is between 1.5% and 3.0%.
UniCredit Bank acted as a ‘green’ structuring advisor.
UniCredit Bank head of green bond origination Antonio Keglevich said: “Thanks to the strong demand, it was possible to more than double the originally planned volume.”
Image: a Nordex N117/3000 wind turbine (Nordex)
