SSE in big­gest ever UK com­pany green bond

The Scotsman - - Business - By MARTIN FLANA­GAN

Util­ity giant SSE, which owns Scot­tish Hy­dro, has is­sued the big­gest-ever “green” bond by a UK com­pany.

The Perth-based group said yes­ter­day that the €600 mil­lion (£553m) bond will pro­vide cap­i­tal to re­fi­nance SSE’S port­fo­lio of wind farms that have been re­cently con­structed or are un­der con­struc­tion.

SSE said the eight-year bond, which will pay a 0.875 per cent coupon, the bond­holder equiv­a­lent of div­i­dends, “reaf­firmed its com­mit­ment to tack­ling cli­mate change”.

The com­pany added: “The €600m bond is the first of its kind is­sued by a UK head­quar­tered en­ergy com­pany and sup­ports not only the devel­op­ment of an ac­tive UK market in en­vi­ron­men­tally-friendly cap­i­tal market prod­ucts but, per­haps most im­por­tantly, shows a strong com­mit­ment to­wards the en­vi­ron­ment and fu­ture gen­er­a­tions.”

SSE said there had been “sig­nif­i­cant de­mand” for the bond, al­low­ing it to achieve its low­est ever coupon for a se­nior bond.

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