Chicago, March 1 – Ellevio AB priced €500 million of 4.125% 10-year green bonds (BBB) on Thursday, according to a market source.
The bonds priced at 99.686 to yield 4.164%, or at mid-swaps plus 140 basis points.
Initial talk had the deal pricing between mid-swaps plus 160 bps to 170 bps.
Call protection includes a Bunds plus 50 bps make-whole call.
ING (billing and delivery), BNP Paribas, NatWest Markets and SEB were the joint bookrunners.
The size was no-grow. The final order book was marked at over €1.35 billion.
A guarantee on the Regulation S notes comes from Ellevio Holding 4 AB.
Proceeds will be used to finance or refinance an eligible green portfolio.
Ellevio is an electricity distribution company based in Stockholm.
| Issuer: | Ellevio AB
|
| Guarantor: | Ellevio Holding 4 AB
|
| Amount: | €500 million
|
| Issue: | Green bonds
|
| Maturity: | March 7, 2034
|
| Bookrunners: | ING (billing and delivery), BNP Paribas, NatWest Markets and SEB
|
| ESG structuring adviser: | ING
|
| Second-party opinion: | ISS ICS
|
| Coupon: | 4.125%
|
| Price: | 99.686
|
| Yield: | 4.164%
|
| Spread: | Mid-swaps plus 140 bps
|
| Call features: | Make-whole call at Bunds plus 50 bps
|
| Trade date: | Feb. 29
|
| Settlement date: | March 7
|
| Ratings: | S&P: BBB
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 160 bps to 170 bps
|
| Marketing: | Investor calls
|
| ISIN: | XS2777383840
|
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