Ørsted A/S (‘Ørsted’) has priced EUR 750 million of subordinated green hybrid capital securities with final maturity on 14 March 3024 and first reset date on 14 December 2029 (NC5.75). Settlement date of the new issue will be on 14 March 2024.
The purpose of the new issue is to refinance Ørsted’s EUR 500 million 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 Ørsted’s hybrid capital portfolio. Today, Ørsted has also invited holders of these securities to tender their holdings for purchase by Ørsted – see separate company announcement relating to the Tender Offer.
Key details of the new EUR 750 million subordinated green hybrid capital securities:
- Nominal amount: EUR 750 million
- Maturity date: 14 March 3024
- Issuer call option: at par from 14 September 2029 to and including 14 December 2029 or on any date in the 90-day period ending on (and including) any Interest Payment Date thereafter
- Fixed coupon until 14 December 2029: 5.125 % p.a.
- Issue price: 99.417 % of nominal amount
- Listing: Luxembourg Stock Exchange (official list) and the Luxembourg Green Exchange Platform (LGX)