European Energy’s €75 Million Hybrid Green Bonds Issue

Plesner advised European Energy A/S.

European Energy A/S announced the issuance of EUR 75,000,000 callable subordinated green capital securities due 3020 (the “hybrid green bonds”) and concurrent written procedure to amend the terms and conditions of its existing senior secured green bonds.

The hybrid green bonds were successfully priced on 9 September 2020 with an initial fixed coupon of 6.125% per annum. The hybrid green bonds will be subordinated to other indebtedness ranking in priority only to the company’s share capital and certain subordinated shareholder funding. The hybrid green bonds will have a maturity of 1,000 years and will be non-callable for a period of three years from the issue date until the first call date. The net proceeds of the hybrid green bonds are intended to be used for purposes of financing or refinancing of eligible projects in accordance with European Energy’s Green Bond Framework.

European Energy offers solutions for corporations and utilities looking to buy green power or district heating.

Plesner team included Anne Cathrine Ingerslev (Picture) and Christian Scott Uhlig.

Involved fees earner: Anne Cathrine Ingerslev – Plesner; Christian Scott Uhlig – Plesner;

Law Firms: Plesner;

Clients: European Energy;