Terna launched a 250 million euro fixed-rate green bond on Thursday. The procedure was that of private placement. It was the reopening of the bond issue communicated to the market on 16 July 2018 and carried out on 23 July last.
Terna explains that the bonds are part of the 8 billion Euro Medium Term Notes Program which has received a BBB+ rating from Standard and Poor's, (P)Baa2 from Moody's and BBB+ from Fitch.
The bonds, which have an original term of 5 years, a residual term of 4 years and 6 months and maturity on July 23, 2023, will pay a coupon of 1,000%, and will be issued at a price of 99,787%, with a spread of 90 basis points over the midswap and with a yield of 1,05%, slightly lower than that of the July 2018 issue.
The net proceeds from the issue will be used to finance Terna's eligible green projects.
