03 Sep SSE issues largest ever green bond by UK firm
The green finance market has been buoyed by news that British energy company SSE has issued the biggest ever green bond by a UK company. The bond will provide capital to be used to refinance SSE’s portfolio of onshore wind farms.
The €600m bond provides capital be used to refinance SSE’s portfolio of onshore wind farms. SSE insists that the eight-year, 0.875% bond “reaffirms its commitment to tackling climate change”. “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,” SSE finance director Gregor Alexander said.
“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.” A “significant demand” from socially responsible has allowed SSE to price at the “tighter end” of guidance, the company said.