Oslo, October 31, 2017: Scatec Solar ASA (the Company) has successfully completed a NOK 750 million senior unsecured green bond issue with maturity in November 2021. The bond issue was significantly oversubscribed. The new bonds will have a floating coupon of 3 month NIBOR plus 475 bps.
The proceeds from the bond issue will be used for refinancing of the outstanding bond with ticker SSO01, with coupon of 3 month NIBOR plus 650 bps maturing in November 2018, and for financing of eligible activities as defined in the Scatec Solar Green Bond Framework.
Settlement of the new bond issue is conditional upon the Proposals being passed at the SSO01 bondholders’ meeting on November 6, 2017. Based on received Voting Instructions, the Company has bondholder support in favor of the proposed changes to the SSO01 bond agreement.
Nordea Bank AB (publ), Filial i Norge and Swedbank Norge, Norwegian Branch of Swedbank AB (publ) acted as Joint Lead Managers and ABN AMRO Bank N.V. acted as Co-Manager in connection with the placement of the new bond issue.
An application will be made for the bonds to be listed on Oslo Børs.
For more information please contact:
Mikkel Tørud, CFO
Mobile: +47 97699144
About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable source of clean energy worldwide.
As a long term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants, and already has an installation track record of close to 600 MW.
Currently, the company is producing electricity from 322 MW of solar power plants in the Czech Republic, South Africa, Rwanda, Honduras and Jordan and another 394 MW are under construction.
With an established global presence, the company is growing briskly with a project backlog and pipeline of more than 1.5 GW under development in the Americas, Africa, Asia and the Middle East. Scatec Solar is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange under the ticker symbol ‘SSO’.
To learn more, visit www.scatecsolar.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.