Denmark

Denmark

Vestas issues €500 million bond

DENMARK: Vestas has placed a seven-year €500 million Eurobond with an interest, or coupon, rate of 2.75%.

Vestas has issued a €500 million Eurobond
Vestas has issued a €500 million Eurobond

The issue will broaden the company's funding structure, according to Vestas. The bonds will be repaid on 11 March 2022.

Luxembourg Stock Exchange will list the bonds and they will be traded on Luxembourg's regulated market from 11 March.

According to Vestas CFO Marika Fredriksson, this is the first time a "green bond" had been issued by a dedicated wind company.

A Vestas statement said: "The net proceeds of the issue will be applied by the Vestas Group for general financing and general corporate purposes."

Vestas posted strong financial figures for 2014, with revenue increasing by 13.5% to €6.9 billion. As a result of the positive results, the Vestas executive board will recommend a dividend of €0.52/share to be paid. It is the first time in over a decade Vestas has paid out a dividend.

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