SSE plans €500 million nine-year green bonds at 65-70 bps spread

By Susanna Moon

Chicago, Aug. 28 – SSE plc plans to price €500 million of nine-year senior green bonds (A3/A-) at mid-swaps plus 65 basis points to 70 bps, according to a market source.

The order book is expected to be about €1 billion with the books closing at 7:15 a.m. ET.

Initial price talk was mid-swaps plus 75 bps to 80 bps.

Proceeds will be used to refinance green projects as defined by SSE’s green bond framework.

The bookrunners are BNP Paribas (bill and deliver), Bank of China, Lloyds Bank Corporate Markets, MUFG and RBC CM Capital Markets.

SSE is a British energy company based in Perth, Scotland.

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