Belfast Telegraph

Utility firm SSE issues £553 million 'green bond'

Energy supplier SSE has issued a 600 million euro (£553 million) "green bond" to underpin its plans to tackle climate change.

The Big Six utility firm said the eight-year bond, with a coupon of 0.875 pence, is the largest to be issued by a UK company.

The move will help SSE refinance its portfolio of onshore wind farms, which have already been built or are under construction.

Finance director Gregor Alexander said: "In line with our innovative approach to financing investment and as major investor in the UK and Ireland's renewable energy infrastructure, we are pleased this new issuance shows our commitment to SSE's sustainability and responsibility principles.

"At the same time we are being consistent with our commitment to maintaining a strong balance sheet and strong market rating, allowing this funding to be secured at very attractive pricing."

SSE said the strong demand for the bond meant it could price at the "tighter end of guidance" and secure its lowest ever coupon for a senior bond.

The bond will mature in September 2025.

Shares in SSE closed up just shy of 1% on the London Stock Exchange.

Weekly Business Digest Newsletter

This week's business news headlines, directly to your inbox every Tuesday.