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Statkraft gets strong interest in EUR-500m green bond sale

Norwegian power company Statkraft A/S has issued EUR 500 million (USD 495.8m) worth of senior unsecured green bonds to secure funds for renewable energy and clean transportation projects.

The transaction was oversubscribed almost 10 times, Statkraft said on Tuesday. It is the maiden offering of Euro-denominated green bonds for the group as part of its Euro Medium Term Note (EMTN) programme.

With maturity in September 2029, the bonds have a fixed coupon of 2.875%. They are planned to be listed on Euronext Dublin.

Statkraft intends to use the fresh capital to finance eligible projects under its Green Finance Framework, under which it plans annual investments of more than NOK 13 billion (USD 1.29bn/EUR 1.3bn) in renewable energy towards 2025. The framework focuses on investments in hydropower, wind and solar projects and related infrastructure, as well as clean transportation initiatives such as charging stations for electric vehicles (EVs).

Nordea, Santander, Societe Generale and UniCredit acted as joint bookrunners in the bond offering. The deal comes on the heels of a NOK-5.5-billion sale of senior unsecured green bonds, which Statkraft completed in June.


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