LONDON (Alliance News) - SSE PLC said Tuesday it has issued a EUR650 million Green Bond, the second of its type to have been issued by the renewable energy provider.
The nine-year bond matures September 2025 and has a 1.375% yield. Proceeds will be swapped into Sterling with an all-in funding cost of around 2.6%.
SSE will use the money to further invest in renewable energy.
"In line with our innovative approach to financing investment and as a major investor in the UK and Ireland's renewable energy infrastructure, we are pleased that this second Green Bond continues to show SSE's focus on sustainability and responsibility principles. This funding is consistent with our commitment to maintain a strong balance sheet and strong market rating, and has been secured at very attractive pricing," said SSE Finance Director Gregor Alexander.
Shares in SSE closed up 0.9% at 1,261.50 pence on Tuesday.
SSE (SSE)