Vestas successfully places a EUR 500m Eurobond

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Vestas successfully places a EUR 500m Eurobond

Vestas Wind Systems A/S, a Danish manufacturer, seller, installer, and servicer of wind turbines, has announced the successful placing of a new green corporate Eurobond.

The Eurobonds, for a principal amount of €500 million (US$542.7 million) with a seven-year maturity, was received very well by the European investors.

Marika Fredriksson, Executive Vice President and CFO of Vestas, stated:

“This green bond allows Vestas to diversify and optimise its funding structure in favour of longer term funding at attractive terms. The bond is the first corporate green bond, issued by a company dedicated exclusively to wind energy, and it underlines Vestas’ strong position as a leader in the renewables industry.”

The bonds will be issued on 11 March 2015 with a coupon of 2.75 % and they will be repaid on 11 March 2022. They will be listed on the official list of the Luxembourg Stock Exchange and admitted to trading on the Luxembourg Stock Exchange's Regulated Market with initial listing date 11 March 2015.

The transaction will diversify Vestas’ funding base and will extend the average debt maturity profile of Vestas. The net proceeds of the issue will be applied by the Vestas Group for general financing and general corporate purposes.

The bonds were placed by Citigroup Global Markets Limited, HSBC Bank plc, Nordea Bank Danmark A/S and Société Générale Corporate & Investment Banking as joint lead managers and bookrunners, and DNB Markets and UniCredit Bank as joint lead managers.

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