Tennet mandates for green hybrid

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By Mike Turner
13 Jul 2020

Tennet, the Dutch utility, has mandated for a long-telegraphed green hybrid bond, as the company looks to protect its credit rating during stakeholder discussions with the German and Dutch governments.

Tennet, rated A3/A- but issuing at Baa3/BB+, hired BNP Paribas, Deutsche Bank, HSBC and ING to arrange fixed income investor calls on Monday.

The borrower is looking to print a green perpetual non-call 5.25 year bond in euros.

Tennet has an ambitious energy transition plan, with 80%, or €35bn, of ...

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