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Norsk Hydro: Successful placement of green Eurobonds

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Norsk Hydro ASA has successfully issued EUR 500 million of senior unsecured green bonds under its Euro Medium Term Note (EMTN) Programme. The new bond features a 7-year tenor and a fixed annual coupon of 3.625% with a 3.649% reoffer yield.

The proceeds will be allocated to eligible projects defined in Hydro's Green and Sustainability-Linked Financing Framework, supporting the company's strategy to accelerate the green aluminium transition. The bonds will be listed on the Irish Stock Exchange (Euronext Dublin), with Citi, Danske Bank, ING, J.P. Morgan and SEB serving as Joint Lead Managers for the transaction.

Norsk Hydro ASA ha emesso con successo 500 milioni di EUR di obbligazioni verdi senior non garantite nell'ambito del suo Programma di Euro Medium Term Note (EMTN). La nuova obbligazione ha una durata di 7 anni e un coupon annuo fisso del 3,625% con un rendimento di riofferta del 3,649%.

I proventi saranno destinati a progetti idonei definiti nel Quadro di Finanziamento Verde e Sostenibile di Hydro, supportando la strategia dell'azienda di accelerare la transizione verso l'alluminio verde. Le obbligazioni saranno quotate sulla Borsa irlandese (Euronext Dublino), con Citi, Danske Bank, ING, J.P. Morgan e SEB che fungono da Co-Lead Managers per la transazione.

Norsk Hydro ASA ha emitido con éxito 500 millones de EUR en bonos verdes senior no garantizados bajo su Programa de Notas a Medio Plazo en Euros (EMTN). El nuevo bono tiene un plazo de 7 años y un cupón anual fijo del 3,625% con un rendimiento de reoferta del 3,649%.

Los ingresos se destinarán a proyectos elegibles definidos en el Marco de Financiación Verde y Sostenible de Hydro, apoyando la estrategia de la empresa para acelerar la transición hacia el aluminio verde. Los bonos se cotizarán en la Bolsa de Valores de Irlanda (Euronext Dublín), con Citi, Danske Bank, ING, J.P. Morgan y SEB actuando como Co-Lead Managers para la transacción.

Norsk Hydro ASA는 유로 중기 노트 프로그램(EMTN)에 따라 5억 유로의 비담보 그린채권을 성공적으로 발행했습니다. 새로운 채권은 7년 만기이며, 3.625%의 고정 연 이자율과 3.649%의 재발행 수익률을 특징으로 합니다.

수익금은 Hydro의 그린 및 지속 가능성 연계 금융 프레임워크에서 정의된 적격 프로젝트에 할당되어 회사의 녹색 알루미늄 전환 가속화를 지원합니다. 채권은 아일랜드 증권 거래소(유로넥스트 더블린)에 상장되며, Citi, Danske Bank, ING, J.P. Morgan 및 SEB가 거래의 공동 관리 역할을 수행합니다.

Norsk Hydro ASA a réussi à émettre 500 millions d'EUR d'obligations vertes senior non garanties dans le cadre de son Programme d'Euro Medium Term Note (EMTN). La nouvelle obligation a une durée de 7 ans et un coupon annuel fixe de 3,625% avec un rendement de réouverture de 3,649%.

Les produits seront alloués à des projets éligibles définis dans le Cadre de Financement Vert et Lié à la Durabilité de Hydro, soutenant la stratégie de l'entreprise pour accélérer la transition vers un aluminium vert. Les obligations seront cotées à la Bourse irlandaise (Euronext Dublin), avec Citi, Danske Bank, ING, J.P. Morgan et SEB en tant que Co-Lead Managers pour la transaction.

Norsk Hydro ASA hat erfolgreich 500 Millionen EUR an ungesicherten grünen Anleihen mit langfristigem Charakter im Rahmen ihres Euro Medium Term Note (EMTN) Programms ausgegeben. Die neue Anleihe hat eine Laufzeit von 7 Jahren und einen festen Jahreszins von 3,625% mit einer Wiederauftragsrendite von 3,649%.

Die Erlöse werden für förderfähige Projekte verwendet, die im Rahmen von Hydros Finanzierungsrahmen für grüne und nachhaltigkeitsgebundene Projekte definiert sind, und unterstützen die Strategie des Unternehmens, den Übergang zu grüner Aluminiumproduktion zu beschleunigen. Die Anleihen werden an der Irischen Börse (Euronext Dublin) notiert, wobei Citi, Danske Bank, ING, J.P. Morgan und SEB als gemeinsame Hauptmanager für diese Transaktion fungieren.

Positive
  • Successful issuance of EUR 500 million green bonds
  • Competitive fixed annual coupon rate of 3.625%
  • Strong investor interest indicating market confidence
  • Strengthens green initiatives funding capabilities
Negative
  • Additional debt obligation with 7-year commitment
  • Interest payment obligations will increase financial expenses

Norsk Hydro ASA has successfully issued EUR 500 million of senior unsecured green bonds under its Euro Medium Term Note (EMTN) Programme.  The new bond has a tenor of 7 years and a fixed annual coupon of 3.625 percent (3.649 percent reoffer yield).

"We are very satisfied to have completed such a successful placement and issued our inaugural green bond. The strong interest confirms that Hydro is considered an attractive investment for bond investors. We are pleased to have achieved highly competitive terms," says CFO, Trond Olaf Christophersen.

The proceeds from the bond issue will be allocated to eligible projects as defined in Hydro’s Green and Sustainability-Linked Financing Framework, and contribute to advancing Hydro’s strategy of accelerating the green aluminium transition.

The bonds will be listed on the Irish Stock Exchange (Euronext Dublin).

Citi, Danske Bank, ING, J.P. Morgan and SEB are Joint Lead Managers for the transaction.


Investor contact
Martine Rambøl Hagen
+47 91708918
Martine.Rambol.Hagen@hydro.com

Media contact
Anders Vindegg
+47 93864271
Anders.Vindegg@hydro.com

Group Treasury and Tax
Nesrin Taraf
+47 46862952
Nesrin.Taraf@hydro.com

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


FAQ

What is the size and interest rate of NHYDY's new green bond issuance?

Norsk Hydro (NHYDY) issued EUR 500 million in green bonds with a fixed annual coupon rate of 3.625% and a reoffer yield of 3.649%.

What is the maturity period of NHYDY's 2024 green bond?

The green bond has a tenor (maturity period) of 7 years.

Where will NHYDY's new green bonds be listed?

The bonds will be listed on the Irish Stock Exchange (Euronext Dublin).

How will NHYDY use the proceeds from the green bond issuance?

The proceeds will be allocated to eligible projects defined in Hydro's Green and Sustainability-Linked Financing Framework to advance the company's green aluminium transition strategy.

Which banks are managing NHYDY's green bond transaction?

Citi, Danske Bank, ING, J.P. Morgan and SEB are serving as Joint Lead Managers for the transaction.

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