Scatec ASA Secures Major Green Bond Issuance for Growth
Scatec ASA's Green Bond Success
Scatec ASA is making significant strides in the renewable energy sector by successfully issuing a NOK 1,250 million green bond. This substantial financial move, featuring a four-year maturity period, showcases Scatec's commitment to environmentally sustainable practices while enhancing its corporate structure.
Details of the Green Bond Placement
The bond bears a coupon rate set at three months NIBOR plus 3.15% annually. The impressive oversubscription reflects strong market interest and confidence in Scatec's vision. The proceeds from this bond issuance will play a crucial role in repaying EUR 114 million (approximately NOK 1.3 billion) worth of bonds with the ticker “SCATC03 ESG,” which is due in the near future. This strategic financial maneuver will not only extend Scatec’s corporate maturity profile but also significantly improve its financial agility.
Corporate Financial Strategy
As part of its ongoing strategy, Scatec ASA is dedicated to deleveraging at the corporate level. This means that about 75% of proceeds from divestments will be utilized for the repayment of corporate debts. This approach aims to maintain and strengthen Scatec’s balance sheet while continuing its mission of expanding renewable energy capacity.
Managing the Bond Placement
The successful placement of the green bonds was facilitated by respected financial institutions, specifically DNB Markets, Nordea, and SpareBank 1 Markets, who acted as Joint Lead Managers. Their involvement underscores the credibility and attractiveness of Scatec's investment opportunities.
Future of the Bonds
Scatec plans to apply for the bonds to be listed on Oslo Børs, enhancing their visibility and accessibility to investors looking to participate in sustainable investment initiatives. This move signals Scatec’s commitment to transparency and market engagement.
Scatec's Commitment to Renewable Energy
Scatec ASA is not just a financial entity; it is a frontrunner in the renewable energy landscape. With a significant operational capacity of 5 GW across five continents, Scatec focuses on providing reliable and affordable clean energy solutions to emerging markets. Their mission revolves around a unified vision of 'Improving our Future' through sustainable energy development.
Collaborating for Clean Energy
The company is passionate about its growth in renewable energy delivery, attributing its success to its dedicated team and partners. Together, they work tirelessly to expand the reach and efficiency of clean energy solutions.
Contact Information
For any inquiries or additional information, interested parties can reach out to Andreas Austrell, VP IR, at +47 974 38 686. Scatec’s commitment to open communication reflects its dedication to stakeholders and the wider community.
Frequently Asked Questions
What is the purpose of Scatec ASA's green bond?
The green bond aims to enhance financial flexibility, allowing Scatec ASA to repay existing debts and sustain its renewable energy projects.
Who managed the bond placement for Scatec ASA?
DNB Markets, Nordea, and SpareBank 1 Markets acted as Joint Lead Managers for the bond issuance.
What are Scatec ASA’s goals for renewable energy?
Scatec ASA aims to increase its renewable energy capacity, focusing on providing affordable clean energy solutions in emerging markets.
How much was raised through the green bond?
Scatec ASA successfully issued a NOK 1,250 million green bond, reflecting strong demand in the market.
Where can I find more information about Scatec ASA?
For further details, visit their official website or contact their investor relations team.
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