Orsted joins green hybrid bonanza

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By Mike Turner
09 Feb 2021

Ørsted, the Danish power company, has mandated for its first green hybrid capital issue in sterling, as subordinated green, social and sustainability debt is tipped to continue finding chunky demand from investors this year.

The issuer, formerly Dong Energy, is rated Baa1/BBB+/BBB+ but its hybrid debt is Baa3/BB+/BBB-. It has mandated Goldman Sachs as global coordinator and Barclays, Deutsche Bank, Morgan Stanley and Nordea as bookrunners.

Ørsted wants to print benchmark sterling non-call 12 year and euro non-call 10 bonds. 

Green hybrids have been a ...

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