Ørsted has announced its intention to issue green senior bonds in Taiwanese dollars (NT$) to raise financing for its investments in the Taiwanese offshore wind sector
This is the first time the company has issued NT$ bonds in the Taiwanese market.
Ørsted is targeting two tranches of senior unsecured bonds with maturities of seven and 15 years for a nominal amount of up to NT$12Bn, subject to market conditions.
The final sizes and pricing of the bonds will be determined when the bookbuilding process closes.
The bonds will be issued by Ørsted Wind Power TW Holding A/S under Ørsted’s EMTN programme and backed by a guarantee from Ørsted A/S. The issuing entity has obtained a twAA rating from Taiwan Rating (subsidiary of Standard & Poor’s) covering its activities in Taiwan.
The bonds will be issued in accordance with Ørsted’s Green Finance Framework, which has received a second opinion with a Dark Green shading from CICERO.
Ørsted A/S is rated Baa1, stable outlook, by Moody’s, BBB+, stable outlook, by Standard & Poor’s, and BBB+, stable outlook, by Fitch.
Ørsted has selected BNP Paribas and Bank of Taiwan to act as lead arrangers alongside Deutsche Bank and CTBC as arrangers on the transaction.