European Energy has raised another green senior bond of €75 million ($75.4 million), despite uncertainty in the financial market.
The proceeds of the bond will be used to finance or refinance renewable-energy projects.
“The current market condition is subject to a significant shift, primarily driven by high and very volatile power prices combined with higher construction costs,” said Knud Erik Andersen, CEO of European Energy. “However, with the issuance of this new bond, European Energy has clearly shown that investors appreciate our strong financials and outlook and by providing us funding, we can continue our projected growth.”
European Energy now has three bonds listed, including a €300 million ($301 million) green senior bond maturing in 2025; a €75 million ($75.4 million million) green senior bond maturing in 2026; and a €150 million ($150.7 million) green hybrid bond maturing in 2030 with first call in September 2023.