Norsk Hydro: Successful placement of green Eurobonds
Norsk Hydro ASA has successfully issued EUR 500 million of senior unsecured green bonds under its Euro Medium Term Note (EMTN) Programme.
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Rhea-AI Summary
Norsk Hydro ASA has successfully issued EUR 500 million of senior unsecured green bonds under its Euro Medium Term Note (EMTN) Programme. The new bond features a 7-year tenor and a fixed annual coupon of 3.625% with a 3.649% reoffer yield.
The proceeds will be allocated to eligible projects defined in Hydro's Green and Sustainability-Linked Financing Framework, supporting the company's strategy to accelerate the green aluminium transition. The bonds will be listed on the Irish Stock Exchange (Euronext Dublin), with Citi, Danske Bank, ING, J.P. Morgan and SEB serving as Joint Lead Managers for the transaction.
Positive
- Successful issuance of EUR 500 million green bonds
- Competitive fixed annual coupon rate of 3.625%
- Strong investor interest indicating market confidence
- Strengthens green initiatives funding capabilities
Negative
- Additional debt obligation with 7-year commitment
- Interest payment obligations will increase financial expenses
Details
News Market Reaction – NHYDY
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AI-generated analysis. How Rhea-AI works. Not financial advice.
Norsk Hydro ASA has successfully issued EUR 500 million of senior unsecured green bonds under its Euro Medium Term Note (EMTN) Programme. The new bond has a tenor of 7 years and a fixed annual coupon of 3.625 percent (3.649 percent reoffer yield).
"We are very satisfied to have completed such a successful placement and issued our inaugural green bond. The strong interest confirms that Hydro is considered an attractive investment for bond investors. We are pleased to have achieved highly competitive terms," says CFO, Trond Olaf Christophersen.
The proceeds from the bond issue will be allocated to eligible projects as defined in Hydro’s Green and Sustainability-Linked Financing Framework, and contribute to advancing Hydro’s strategy of accelerating the green aluminium transition.
The bonds will be listed on the Irish Stock Exchange (Euronext Dublin).
Citi, Danske Bank, ING, J.P. Morgan and SEB are Joint Lead Managers for the transaction.
Investor contact
Martine Rambøl Hagen
+47 91708918
Martine.Rambol.Hagen@hydro.com
Media contact
Anders Vindegg
+47 93864271
Anders.Vindegg@hydro.com
Group Treasury and Tax
Nesrin Taraf
+47 46862952
Nesrin.Taraf@hydro.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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