Green bonds surpass 15 billion with Scatec Solar

Alternative Sources of Energy, Energy, Environment, Markets, Statistics, Stock Markets — By on December 21, 2015 at 8:27 AM
oslo bors21/12/2015 – Scatec Solar lists its first bond issue on Oslo Børs today. With this, the green bond list surpasses NOK 15 billion in total outstanding value.

In January this year, Oslo Børs became the first exchange in the world to establish a separate list for green bonds. Since then, the list has reached 11 issues with total outstanding value around NOK 15.3 billion.

Scatec Solar’s shares were listed on Oslo Børs October 2014. Since then the share price has risen nearly 110 percent, and today the solar energy company lists its first bond issue.

The bond loan that is admitted to listing today – Scatec Solar ASA 15/18 FRN – is an issue of NOK 500 million with a floating interest rate of 3 month NIBOR + 6.5 %. DNB Markets, Nordea Markets and Swedbank have been the managers for the issue.

The proceeds raised by issuing green bonds must be used for environmentally friendly purposes, and a second opinion on the project has to be sought in order for the issue to feature on the green list. DNV LG has provided the second opinion for the green bond listed by Scatec Solar.

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