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GC Asia
Ørsted sterling green hybrid romps home
Ørsted, the Danish power company, pushed into the green hybrid sterling market on Wednesday, with the largely UK-based sterling buyer base proving to be just as keen on the debt as their euro counterparts.
Ørsted, formerly Dong Energy, is rated Baa1/BBB+/BBB+ but prints hybrid debt at Baa3/BB+/BBB-. The company opened books on a perpetual non-call 2033 trade for an expected £400m ($552.67m) at 3%. This is the company’s first foray into sterling hybrids.
At the same time, the issuer started marketing a perpetual ...Already a subscriber? Login
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