Danish wind farm operator European Energy has increased the size of its debut euro-denominated green bond, from the originally targeted €120m to €140m, on demand of more than €230m. The deal is one of only a handful of high yield issues to claim formal sustainability status, as ethical investment strategies gather pace in more corners of the capital markets.
Renewable energy has an unfortunate history in European high yield markets, with Spanish renewables firm Abengoa going through two major restructurings in the last three years. Senvion, which makes wind turbines (including for European Energy) also placed itself in voluntary administration earlier this year, leaving bondholders headed
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