June 17 (Renewables Now) - Danish renewables developer European Energy A/S is looking to raise EUR 140 million (USD 157m) through the issuance of green bonds.
On Friday, the company priced the particular bond offering, setting a coupon of 3m Euribor + 535 bps. The senior secured callable floating rate green bonds will mature in 2023.
European Energy said it will use the proceeds from the offering to repay existing bond debt under its EUR-85-million senior secured callable floating rate bonds 2017/2021. The balance will be spent on the refinancing of eligible assets and projects.
The Swedish branch of DNB Markets, a part of DNB Bank ASA, and Nordea Bank Abp are acting as joint lead managers for the offering.
(EUR 1.0 = USD 1.122)