Vattenfall issues GBP 250 million green hybrid bond

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Vattenfall has successfully issued a GBP 250 million green fixed-rate hybrid bond. The issue was almost five times oversubscribed and the proceeds will finance investments that contributes to Vattenfall’s goal of enabling fossil-free living within one generation.

This is Vattenfall’s first hybrid bond issued in GBP and also the first GBP issuance under the Green Bond Framework, published in 2019, where proceeds from the bonds are earmarked for investments in the following four eligible categories: 1) renewable energy and related infrastructure, 2) energy efficiency, 3) electrification of transport and heat as well as 4) industrial projects.

Vattenfall's CFO Kerstin Ahlfont comments: “I am very pleased that our first GBP-denominated green transaction engaged so many investors that will now join Vattenfall in driving the energy transition forward.”

Green hybrid capital supports Vattenfall’s solid investment grade rating, reinforces the company’s sustainability commitment and provides cost efficient equity-like capital.

Citi acted as structuring advisor and Barclays, Citi and NatWest Markets as joint bookrunners on the bond issue.

The settlement date is 29 June 2021.

Fact box – GBP hybrid bond

  • Size:
GBP 250m
  • Maturity
  • Issue rating:
BB+ (S&P) /Baa2 (Moody’s)
  • Coupon
  • Equity treatment:
50 percent equity and 50 percent debt
  • Listing:
Nasdaq Stockholm
  • Documentation:
  • Governing law:
Swedish law

For further information, please contact:
Johan Sahlqvist, Head of Group Control and Investor Relations, tel.: +46 (0)8 739 72 51, mob.:+46 (0)72 226 40 51
Vattenfall's Press Office, tel.: +46 (0)87 39 50 10,