Orsted has priced €750m of subordinated green hybrid capital securities.
According to a filing with the London Stock Exchange, the purpose of the new issue is to refinance Orsted’s €500m 2.25% hybrid capital securities issued in 2017, which is callable at par on the first reset date, 24 November 2024, and to proactively manage Orsted’s hybrid capital portfolio.
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Today, Orsted has also invited holders of these securities to tender their holdings for purchase by Orsted.
The new securities have a final maturity on 14 March, 3024 and first reset date on 14 December, 2029. The settlement date of the new issue will be on 14 March 2024.