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50Hertz pushes €500m bond

By: Lewis Holdsworth 04/06/2015 50Hertz

General Grid

50Hertz’ holding company, Eurogrid GmbH, has emitted a corporate bond over 500 million (£360m) ($568m) Euros on June 2. The bond has a denomination of 100,000 Euros with a duration of 10 years and a coupon of 1.875 %.

The issuance was done via Bourse Luxembourg where the bond will also be traded.

Instruments like such bonds are the cornerstones of our long term and efficient corporate financing. They are needed for the huge investments that lie ahead of us“, states Udo Giegerich, CFO at 50Hertz.

The company is planning to invest around 5.4 billion Euros during the next decade. The money goes into the development of the transmission grid including offshore wind park connections.

This bond emission is the second one in the companies’ history. In 2010 Eurogrid had already issued a bond – but today this could take place under different circumstances and in a more attractive interest rate environment
compared to 2010. "We are pleased to see, that Eurogrid could place the bond successfully under the current market and interest conditions”, says 50Hertz-CFO Giegerich.

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50Hertz pushes €500m bond

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