TenneT has issued a € 1 billion Green Hybrid Bond which was oversubscribed 2.5 times by investors. Proceeds will be used to invest in green projects in the Netherlands and Germany to connect large scale offshore wind to the onshore electricity grid and to enhance the onshore transmission capacity for renewable energy.
The transaction was supported by ten banks: BNP Paribas and HSBC as joint structuring advisors and joint lead managers, Deutsche Bank and ING Bank as joint lead managers and ABN AMRO, Commerzbank, Lloyds Bank, NatWest Markets, Rabobank and SMBC Nikko as passive bookrunners.