German electric utility EnBW Energie Baden-Wuerttemberg AG (ETR:EBK) said on Thursday that it has issued two green bonds with a combined value of AUD 1 billion (USD 663m/EUR 616m) to finance climate-friendly projects.
The deal marks the company’s first bond placement on the Australian capital market.
The first debt certificate is worth AUD 350 million and bears a coupon of 5.302%. It will mature on October 30, 2029. The second bond has a value of AUD 650 million and a ten-year maturity term until October 30, 2034. Its coupon rate has been set at 6.048%.
Proceeds from the placement will be used for climate-friendly projects in accordance with the EU Taxonomy and the EnBW Green Financing Framework.
“We are currently in the middle of building the carbon-free energy infrastructure of the future. This is why the vast majority of our investment is also in the green transformation of our portfolio. And we are making good progress here. We currently have around 1.5 GW of renewable energy under construction, not to mention the accompanying grid expansion,” EnBW deputy CEO Thomas Kusterer commented in the statement.
(AUD 1 = USD 0.663/EUR 0.616)
Read More: EnBW issues AUD 1bn in green bonds on Aussie capital market