Nordea facilitates Ørsted A/S issue of first-ever Nordic Green hybrid bond

17-11-17 10:59 | Sustainability | About Nordea

An important milestone was achieved for Nordea and the Nordic Green bond market yesterday when Ørsted A/S (formerly DONG Energy) issued the first-ever Nordic Green hybrid bond with Nordea as a joint bookrunner.

Ørsted A/S has undergone a fundamental change in recent years by shifting its strategic focus towards 100 per cent green energy. The new strategy is clearly evident not only from the recent divestment of its upstream oil and gas business but also by changing its name from DONG Energy (short for “Dansk Olie og Naturgas”) to Ørsted (named after the 19th century Danish scientist).

“This clearly marks a historic moment for the Nordic Green bond market. Not only is Ørsted A/S already a global leader in the offshore wind power market, but they also have a clear commitment to achieving 100% coal-free, green energy by 2023. Indeed, this is well reflected in the Dark Green shading from CICERO,” says Jacob Michaelsen, Head of Sustainable Bonds at Nordea.

CICERO, Norway’s foremost institute for interdisciplinary climate research, has come up with a grading scale for Green bonds to offer investors better insight into the environmental quality of Green bonds. The Dark Green category, the highest level, is allocated to projects and solutions that correspond to the long-term vision of a low-carbon and climate resilient future.  

For more information about the transaction please click here.

Fact box

Proceeds from Ørsted’s Green hybrid bond will be used to invest in:
- Offshore wind
- Bioenergy
- Energy storage and smart grid
Ørsted will not finance nuclear or fossil energy generation projects through their Green bonds.

Latest news by Nordea

Showing 5 of 148 results

Nordea sets a stage for future business sustainable choices  

About Nordea

Gathering to discuss the urgent matter of why corporates and investors should look to include sustainability considerations into their financial strategies.

Get ahead – join our Economic Outlook webinar

Economic outlook

Sign up for a webinar, and receive the Economic Outlook released on 5 September.

Nordea sign

Nordea sanctioned by ESMA

About Nordea

As previously communicated, Nordea has since 2015 been subject to an investigation by ESMA of its past practice of including so called “shadow ratings” in it...

Nordea's first Green bond impact report published

Sustainability About Nordea

We proudly present Nordea’s first Green bond impact report.

we.trade – Nordea co-developed blockchain platform has performed its first trades

About Nordea

Nordea is a key player in the design and implementation of this cutting-edge solution.

Showing 5 of 148 results