Ørsted issues EUR green hybrid capital securities

5.3.2024 09:04:00 CET | Ørsted A/S | Investor News

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE UNITED STATES), OR TO ANY US PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933), OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

Ørsted A/S (‘Ørsted’) announces its intention to issue a EUR benchmark size of subordinated green hybrid capital securities with first reset date after 5.75 years (NC5.75) and final maturity in 3024.

The purpose of the new issue is to refinance Ørsted’s EUR 500 million 2.25 % EUR hybrid capital securities issued in 2017, with first reset date on 24 November 2024, and to proactively manage Ørsted’s hybrid capital portfolio. Today, Ørsted is also inviting holders of these securities to tender their holdings for purchase by Ørsted – see separate company announcement relating to the Tender Offer.

Proceeds from the issuance will be allocated to investments into renewable energy projects in accordance with Ørsted’s green finance framework, which has a second opinion with a Dark Green shading from Cicero (https://orsted.com/en/Investors/Debt/Green-Financing).

Ørsted is rated Baa1, negative outlook, by Moody’s, BBB, stable outlook, by Standard Poor’s, and BBB+, stable outlook, by Fitch. Ørsted’s new green hybrid capital securities are expected to receive the rating of Baa3 by Moody’s, BB by Standard and Poor’s, and BBB- by Fitch.

On this transaction Morgan Stanley acts as Joint Bookrunner and Global Coordinator and with Citi, Danske Bank, HSBC, and J.P. Morgan as Joint Bookrunners.

For further information, please contact:

Global Media Relations
Carsten Birkeland Kjær
+45 99 55 77 65
[email protected] 

Investor Relations
Rasmus Keglberg Hærvig
+45 99 55 90 95
[email protected]  

About Ørsted
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities, and bioenergy plants. Ørsted is recognised on the CDP Climate Change A List as a global leader on climate action and was the first energy company in the world to have its science-based net-zero emissions target validated by the Science Based Targets initiative (SBTi). Headquartered in Denmark, Ørsted employs approx. 8,900 people. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2023, the group's revenue was DKK 79.3 billion (EUR 10.6 billion). Visit orsted.com or follow us on Facebook, LinkedIn, Instagram, and X.

Attachments

• Issues green hybrid capital securities.pdf