Tennet readies green hybrid first

Green 230
By Michael Turner
16 Mar 2017

Dutch national energy company Tennet is preparing to sell the first ever green hybrid capital bond in a deal that bankers unanimously said will fly, but the mandate has sparked calls that the vanilla green market should become larger before the green product base becomes more varied, writes Michael Turner.

Tennet, rated A3/A-, has hired Barclays and Deutsche Bank as joint structuring advisers and those two banks plus BNP Paribas, HSBC and ING as joint bookrunners, to arrange a roadshow across Europe from Wednesday.

“Part of our way of thinking is we believe that ...

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