European Energy calls green bonds, green capital securities

By Mary-Katherine Stinson

Lexington, Ky., April 16 – European Energy A/S will redeem early portions of two series of green bonds and a series of green capital securities due to Mitsubishi HC Capital Inc.’s equity investment in European Energy, according to a notice.

The company will redeem 35% of the nominal amount of its €300 million senior unsecured green bonds due 2025 (ISIN: DK0030494505) at 101.406 and 35% of the nominal amount of its €150 million senior unsecured green bonds due 2026 (ISIN: DK0030511613) at 102.

The redemptions will take place on May 2. The record date is April 30.

Additionally, European Energy will redeem all the outstanding €115 million callable subordinated green capital securities due 3023 (ISIN: DK0030521927) at their early redemption amount of 103.

The redemption will take place on May 17. The record date is May 16.

There are no outstanding payments under the capital securities.

The redemption notices for all three series are irrevocable.

The transactions were triggered by Mitsubishi HC Capital’s equity investment in the company, which closed on April 16 for approximately €700 million. Following closing, Mitsubishi owns about 20% of European Energy’s share capital.

This constituted an equity transaction under the 2025 bonds and 2026 bonds and a replacing capital event under the hybrid conditions of the green capital securities.

In connection with the capital securities redemption, the capital securities will be delisted from Nasdaq Copenhagen.

The Soborg, Denmark, company builds solar and wind farms and energy storage facilities.

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