Ørsted A/S plans to issue green senior bonds in the UK-market to finance its green growth ambition towards 2025 including the investments in 1,386MW Hornsea Two offshore wind farm.
With the bond issuance, Ørsted targets a multi-tranche senior unsecured GBP-Sterling green bond, subject to market conditions. Tranches may include benchmark 8-year and 14-year nominal fixed rate tenors, alongside a potential index-linked tranche (linked to either UK RPI or CPI) with an expected 15-year maturity.
The final sizes and pricing of the green bond tranches will be determined when the book-building process closes.
Ørsted has appointed Barclays Bank PLC, Goldman Sachs International, Morgan Stanley & Co. International PLC and NatWest Market PLC as joint lead managers on the bond issuances.
Hornsea Project Two is located 89km north-east of Grimsby and will comprise 165 Siemens Gamesa 8MW wind turbines.
It will become the world’s biggest offshore wind farm when operational in 2022, leapfrogging t he 1.2GW Hornsea Project One , currently being constructed 120km offshore Yorkshire.