SSE PLC SSE Issues EUR 650m Green Bond (6642T)
25 Luglio 2022 - 5:55PM
UK Regulatory
TIDMSSE
RNS Number : 6642T
SSE PLC
25 July 2022
SSE PLC
SSE ISSUES EUR650m GREEN BOND
SSE plc has successfully issued a EUR650m 7-year green bond
maturing 1 August 2029 at a coupon of 2.875 per cent.
Today's issuance is SSE's fifth green bond in six years and
reaffirms its status as the largest issuer of green bonds from the
UK corporate sector. It remains the only UK corporate to offer up
multiple green bonds and this latest issuance brings SSE's total
outstanding green bonds to over GBP2.5bn.
SSE continues to make progress with delivery of its GBP12.5bn
Net Zero Acceleration Programme, set out last November, which will
see it double its renewables capacity by 2026. The green bond
proceeds are earmarked to help fund SSE Renewables projects
currently under construction or recently completed such as the
Gordonbush Extension, Viking and Seagreen wind farms, as well as
the world's largest offshore wind farm at Dogger Bank.
SSE expects to deliver around a fifth of the UK's target of 50GW
of offshore wind by 2030 as part of plans that could see it invest
GBP25bn in the UK alone by the end of the decade.
Gregor Alexander, SSE's Finance Director, said: "We have always
viewed optionality, agility and discipline as important qualities
in financing. This has only been emphasised by the continued
volatility in the capital markets due to rising inflation impacting
on Central Bank plans for raising rates.
Notwithstanding the current challenging market conditions,
today's new green bond has been extremely well received, and was
considerably oversubscribed. This latest green bond is consistent
with our commitment to maintaining a strong balance sheet as we
continue our Net Zero Acceleration Programme investments, and will
enable us to continue to deliver cleaner, more secure and more
affordable energy."
Notes
SSE's recently published Green Bond Report can be found at
https://www.sse.com/greenbond , along with an Assurance Report from
PwC and DNV's Opinion Report on this new green bond issuance.
Enquiries
Sally Fairbairn,
SSE Investor Michael +44 (0)345 0760
Investors Relations ir@sse.com Livingston 530
Sam Peacock, +44 (0)345 0760
Media SSE Media media@sse.com Glenn Barber 530
+44 (0)7885 224
MHP Communications Oliver Hughes 532
+44 (0)7709 496
Simon Hockridge 125
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END
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July 25, 2022 11:55 ET (15:55 GMT)
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