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28 Aug 2018 16:33
SSE PLC
NEW 9 YEAR GREEN BOND
Following on from an inaugural Green Bond in 2017, SSE plc ("SSE") has successfully issued its second Green Bond, a nine year €650m euro bond maturing September 2025 with a coupon of 1.375 per cent. Today's issuance affirms SSE as the largest issuer of green bonds from the UK corporate sector and is additionally the only UK corporate to offer up multiple benchmark sized tranches in the Euro market. Proceeds will be swapped to Sterling and the all-in funding cost is expected to be around 2.6 per cent.
This issuance will help SSE to take a leading role in supporting the transition towards a low carbon future, through its plans to continue to invest in renewable energy, and reaffirm its position as a leader in renewable sources of energy.
Gregor Alexander, Finance Director of SSE, said: "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."
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