Scatec Solar places NOK-750m green bond

Scatec Solar ASA has successfully completed a NOK750 million (US$92 million) senior unsecured green bond issue with maturity in November 2021. The bond issue was significantly oversubscribed. The new bonds will have a floating coupon of 3 month NIBOR plus 475 bps.

The proceeds from the bond issue will be used for refinancing of the outstanding bond with ticker SSO01, with coupon of 3 month NIBOR plus 650 bps maturing in November 2018, and for financing of eligible activities as defined in the Scatec Solar Green Bond Framework.

Settlement of the new bond issue is conditional upon the Proposals being passed at the SSO01 bondholders' meeting on November 6, 2017. Based on received Voting Instructions, the company has bondholder support in favor of the proposed changes to the SSO01 bond agreement.

Nordea Bank AB (publ), Filial i Norge and Swedbank Norge, Norwegian Branch of Swedbank AB (publ) acted as Joint Lead Managers and ABN AMRO Bank N.V. acted as Co-Manager in connection with the placement of the new bond issue. 

An application will be made for the bonds to be listed on Oslo Børs.