Posted on: 05/09/2017
Utility group SSE has issued what it hailed as “the biggest ever green bond by a UK company”.
The company will use the €600 million (£550m) to refinance its recently-constructed onshore wind farms and sites it’s currently developing.
Gregor Alexander, Finance Director of SSE, said: “In line with our innovative approach to financing investment and as major investor in the UK and
Ireland’s renewable energy infrastructure, we are pleased this new issuance shows our commitment to SSE’s sustainability and responsibility principles.
“At the same time, we are being consistent with our commitment to maintaining a strong balance sheet and strong market rating, allowing this funding to be secured at very attractive pricing.”
The eight-year bond yields interest at 0.875%.
SSE said demand was high, allowing it to offer its lowest-ever interest rate or “coupon” for a senior bond.
It said that “socially-responsible” investors were keen on the bond.