Eurogrid €500 million 1.875% bond issue

Overview:

• German energy company Eurogrid issued €500 million in bonds to raise funds for its subsidiary 50Hertz to finance the expansion of its electricity transmission grid.
• The bonds have a coupon of 1.875% and mature in June 2025.
• The notes were listed on the Luxembourg Stock Exchange.
• The bond will enable Eurogrid to finance plans by its subsidiary 50Hertz, an electricity transmission system operator for north and east Germany, to develop its transmission infrastructure.
• 50Hertz intends to invest more than €5 billion in the next 10 years in improving its transmission grid.
• Commerzbank, Coöperatieve Centrale Raiffeisen-Boerenleenbank, Landesbank Hessen-Thüringen Girozentrale, and The Royal Bank of Scotland arranged the deal. 

Ben Naylor - Regional Editor