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Innogy bond targets wind

€850m raised will refinance one onshore and four offshore projects

Innogy bond targets wind image

Innogy has issued a €850m green bond in order to refinance four offshore wind farms in Germany and the UK and an onshore project in the Netherlands.

The wind farms are under construction or already in operation and have expected output of three terawatt-hours a year, Innogy said.

The bond has a 10-year maturity with a coupon rate of 1.25% and was oversubscribed “several times”, the company said.

Innogy chief financial officer Bernhard Günther said: “Innogy is a sustainable company by conviction and business model. 

“Setting up a Green Bond Framework and issuing the first benchmark corporate green bond in Germany is a logical step to underline this position.”

Bookrunners for the issuance were ABN Amro, Société Générale and DZ Bank, HSBC, LBBW and MUFG.

Image: reNEWS

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