Chicago, Nov. 8 – NV Nederlandse Gasunie priced a €300 million inaugural green bond (AA-) on Wednesday, according to a market source.
The 3.875% bonds priced at 99.683 to yield 3.918%, or at mid-swaps plus 80 basis points. Alternatively, the bonds priced at Bunds plus 132 bps.
The bonds will be callable early with a Bunds plus 20 bps make-whole premium. There is also a three-month par call.
ING is handling billing and delivery. ING is joined by ABN Amro and Credit Agricole CIB as active bookrunners.
Proceeds will be used for eligible green projects.
The company has issued sustainability-linked bonds in the past, according to the Prospect News archive.
The energy network operator is based in Groningen, the Netherlands.
| Issuer: | NV Nederlandse Gasunie
|
| Amount: | €300 million
|
| Issue: | Senior green bonds
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| Maturity: | May 22, 2033
|
| Bookrunners: | ING (billing and delivery), ABN Amro and Credit Agricole CIB
|
| Sustainability advisers: | ABN Amro, Credit Agricole CIB
|
| Coupon: | 3.875%
|
| Price: | 99.683
|
| Yield: | 3.918%
|
| Spread: | Mid-swaps plus 80 bps, or Bunds plus 132 bps
|
| Call features: | Make-whole call at Bunds plus 20 bps; three-month par call
|
| Trade date: | Nov. 8
|
| Settlement date: | Nov. 22
|
| Ratings: | S&P: AA-
|
| Distribution: | Regulation S
|
| ISIN: | XS2716710756
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