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Vattenfall issues second €500 million green bond

Image: Vattenfall.

Image: Vattenfall.

Swedish energy giant Vattenfall has issued its second €500 million (£435 million) green senior bond.

The issue was oversubscribed by over six times, the company said, with the proceeds to be used to finance investments in the four eligible categories specified in the Vattenfall’s Green Bond Framework.

The categories – renewable energy and related infrastructure, energy efficiency, electrification of transport and heat, and industrial projects – were also the target of its first green bond.

Issued in July 2019, the first green bond was reviewed by Cicero and given the independent research institute’s highest rating, with the size of the two outstanding bonds totalling €1 billion.

Both bonds were listed on Stockholm’s Nasdaq, with the Bond in July was the first listed under an Euro Medium Term Note (EMTN) programme under Swedish governing law.

The latest bond has a settlement date of 12 March 2020.

Anna Borg, CFO of Vattenfall, said: “We have once again seen a very strong interest among European investors when issuing our new green bond.

“Vattenfall has considerable investment plans for the coming years, where we will continue to invest according to our vision of enabling a fossil-free life within one generation.”

Vattenfall has made a number of announcements relating to the UK market recently, particularly to do with electric vehicles. It installed eighteen new charge points in Hampshire in November, and signed a letter of intent along with Honda for a domestic EV charging solution to be rolled out in Europe.

It also signed a roaming deal with NewMotion in August, allowing EV drivers to charge using either Vattenfall or NewMotion-owned infrastructure and pay via a single app or charge card.

Vattenfall is also a partner in the Virgin Media Park & Charge project, utilising Virgin Media’s infrastructure for on-street electric vehicle (EV) charging.

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