Scatec ASA Green Bond Issuance Highlights
In a significant stride towards financial stability and sustainability, Scatec ASA has successfully placed a NOK 1,000 million senior unsecured green bond. This bond, maturing in 4.25 years, features a competitive coupon rate linked to 3 months NIBOR plus 2.85% per annum. The strategic intention behind this bond issuance is to facilitate the repayment of existing corporate interest-bearing debts and to support Scatec's general corporate objectives as detailed in their Green Financing Framework.
Enhancing Financial Flexibility
Issuing this green bond not only extends Scatec's corporate maturity profile but also significantly enhances its financial flexibility. The leadership at Scatec has underscored their dedication to reducing corporate debt, with ambitious targets set to lower gross corporate interest-bearing debt to NOK 4 billion by the year 2030. This commitment demonstrates Scatec's proactive stance in navigating the complexities of the renewable energy landscape while maintaining fiscal discipline.
Collaboration with Financial Institutions
A strong collaboration facilitated the successful placement, with Arctic Securities, DNB Carnegie, Nordea, and SB1 Markets acting as Joint Lead Managers for the bond issue. The collective expertise of these institutions played a pivotal role in ensuring a smooth transaction, enabling Scatec to reach its funding goals efficiently.
Future Listing on Oslo Børs
The newly issued bonds are set to be listed on the Oslo Børs, which is expected to enhance market liquidity and investor confidence. This move aligns with Scatec's strategic objectives to enhance its visibility within the capital markets, fostering a robust platform for future growth and investment into renewable energy projects.
About Scatec ASA
Scatec is recognized as a leading provider of renewable energy solutions dedicated to making clean energy accessible and affordable, particularly in emerging markets. With a strong commitment to sustainability, Scatec develops, builds, operates, and owns renewable energy plants worldwide, boasting an impressive operational and construction capacity of 6.2 GW across five continents. The company's success is a collective effort of its passionate employees and partners united by a common vision of 'Improving our Future'. Headquartered in Oslo, Norway, Scatec is listed on the Oslo Stock Exchange under the ticker symbol 'SCATC'.
Contact Information
For further inquiries, please reach out to:
Andreas Austrell, SVP IR
Email: andreas.austrell@scatec.com
Phone: +47 974 38 686
Frequently Asked Questions
1. What is the purpose of Scatec's green bond?
The proceeds of the green bond will be used to repay outstanding corporate debt and for general corporate purposes related to sustainability efforts.
2. How much was the green bond issued for?
Scatec issued a senior unsecured green bond worth NOK 1,000 million.
3. Who managed the bond placement?
The placement was managed by Arctic Securities, DNB Carnegie, Nordea, and SB1 Markets.
4. What is Scatec's target for reducing corporate debt?
Scatec aims to reduce its gross corporate interest-bearing debt to NOK 4 billion by 2030.
5. Where is Scatec headquartered?
Scatec is headquartered in Oslo, Norway.
