Danish wind turbine manufacturer, Vestas, has placed a new green corporate Eurobonds for a principal amount of EUR 500m.
The bonds with seven-year maturity were received well by the European investors.
“This green bond allows Vestas to diversify and optimise its funding structure in favour of longer term funding at attractive terms,” says Marika Fredriksson, Executive Vice President and CFO of Vestas.
“The bond is the first corporate green bond, issued by a company dedicated exclusively to wind energy, and it underlines Vestas’ strong position as a leader in the renewables industry.”
The Bonds will be issued on 11 March 2015 with a coupon of 2.75 per cent and will be repaid on 11 March 2022.
The Bonds are issued to diversify Vestas’ funding base and to extend the average debt maturity profile of Vestas. The net proceeds of the issue will be applied by the Vestas Group for general financing and general corporate purposes.