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Strong market reception for TenneT’s new EUR 1 billion Green Bond

TenneT successfully priced a new EUR 1 billion senior Green Bond representing its largest ever issue-size.

Reading time

3 Minutes

Last updated

7/11/2022

Financial

TenneT successfully priced a new EUR 1 billion senior Green Bond representing its largest ever issue-size. The market demonstrated keen interest for the offering with an order book of approximately EUR 2 billion. With the offering, TenneT reconfirms its status amongst the top 3 corporate issuers of green debt financing globally, with currently approximately EUR 13 billion of green debt issued across different formats during the last 6 years.

TenneT Holding B.V. (issuer ratings A3/A-, stable outlook)  successfully launched and priced a 13.6 year senior Green Bond issue of EUR 1 billion with a coupon of 0.875% on Tuesday November 2nd. TenneT was supported on the transaction by 6 Joint Bookrunners: BNP Paribas, Deutsche Bank, HSBC, ING Bank, NatWest Markets and SMBC Nikko. 

Proceeds will be used to invest in eligible green power transmission projects in the Netherlands and Germany focused on connecting large-scale offshore wind farms to the onshore electricity grid and enhancing the onshore transmission capacity for renewable energy. Further details on these projects and project selection process are set out in TenneT’s Green Financing Framework, updated in March 2021, for which ISS ESG has provided a Second Party Opinion to confirm the alignment with the ICMA Green Bond Principles.

Investing in green energy

With annual planned investments expected to grow to approximately EUR 5 to 6 billion within the next five years, TenneT is heavily investing in the energy transition in Europe

With annual planned investments expected to grow to approximately EUR 5 to 6 billion within the next five years, TenneT is heavily investing in the energy transition in Europe, making an important contribution to meet national climate targets and to connect everyone to a brighter energy future, whilst maintaining a solid financial position.

The majority of TenneT's investments are directly related to the increase in renewable energy sources, such as wind and solar energy. By 2030 TenneT expects to have realized approximately 28 gigawatt (GW) of connection capacity for offshore wind farms in the Dutch and German parts of the North Sea, transmitting an amount of electricity sufficient to support the energy usage of approximately 28 million households.