Successful green bond debut of Amprion on the international bond market
The transmission system operator Amprion has successfully placed its first Green Bond on the international capital market. The 1.8 billion euro bond, issued within Amprion's debt issuance programme, was oversubscribed several times.
With the proceeds from the issuance, the transmission system operator will continue to drive forward the necessary transformation and expansion of the electricity grid and fulfil its legal mandate. The proceeds will be used exclusively for projects that meet the criteria of the Amprion Green Finance Framework. Amprion is thus helping to pave the way to a climate-neutral energy system. The Second Party Opinion issued by Sustainalytics confirms the alignment of Amprion’s Green Finance Framework with the international Green Bond Principles.
"With our first Green Bond, we expand the range of investors just one year after our debut on the international bond market. We have now firmly anchored the topic of sustainable management, which is essential for the strategic success of the company, in our financing as well," commented Amprion CFO Peter Rüth. In view of the current volatile and uncertain situation on the capital markets, the great interest shown by investors testifies to their confidence in Amprion's sustainability strategy, Rüth added.
Solid investment grade rating
The dual-tranche bond with volumes of 800 million euro and 1 billion euro has a term of 5 years and 10 years respectively. It bears interest with a coupon of 3.450 % and 3.971 % respectively. The bonds are listed on the Euro MTF of the Luxembourg Stock Exchange.
Amprion has corporate ratings of Baa1 and BBB+ from the rating agencies Moody's and Fitch, respectively, each with a stable outlook. In addition, the transmission system operator has an ESG risk rating of "Low Risk - 12.8" from Sustainalytics. Moody's rates the newly issued dual-tranche bond at Baa1.
The issuance was supported by Commerzbank, SEB and UniCredit as joint global coordinators and active bookrunners and by ING and Landesbank Baden-Württemberg (LBBW) as additional active bookrunners. Further bookrunners were Bayerische Landesbank (Bayern LB), DZ BANK AG and Landesbank Hessen-Thüringen (Helaba).