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Firm raises €600 million to refinance onshore wind portfolio
SSE has issued a €600 million green bond – the largest ever from a company based in the UK.
The Big Six supplier will use the proceeds to refinance its portfolio of recently-constructed or under-construction onshore windfarms.
The firm said it has been able to set its lowest ever coupon rate for a senior bond at 0.875 per cent due to “significant demand” for the eight-year security.
SSE finance director Gregor Alexander said: “In line with our innovative approach to financing investment and as major investor in the UK and Ireland’s renewable energy infrastructure, we are pleased this new issuance shows our commitment to SSE’s sustainability and responsibility principles.
“At the same time, we are being consistent with our commitment to maintaining a strong balance sheet and strong market rating, allowing this funding to be secured at very attractive pricing.”
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