Scatec successfully places NOK 1,000 million unsecured green bonds, completing refinancing of bridge facility

Oslo, 10 February 2023: Scatec ASA, a leading renewable energy company in emerging markets, has successfully placed NOK 1,000 million of new senior unsecured green bonds to refinance the remaining USD 93 million of the bridge facility established when Scatec acquired SN Power in 2021.

The new bonds have maturity in February 2027 and will have a coupon of 3 months NIBOR plus 660 bps. The weighted average margin and tenor on Scatec’s group level debt portfolio including the new bonds are 3.25 percent and 3.5 years respectively.

“With this bond transaction we have completed the refinancing of the bridge facility established when Scatec acquired SN Power in 2021. Our growing asset portfolio is generating solid long-term cash flows and we are pleased to see continued strong support from our relationship banks and the bond market. We have furthermore strengthened our balance sheet through the recently announced asset sale in South Africa and a revised dividend policy. We will remain disciplined in our approach to new investments and continue to see attractive growth opportunities in our focus markets,” says Scatec CEO Terje Pilskog.

DNB Markets, Nordea and Sparebank 1 Markets acted as Joint Lead Managers and DNB Markets and Nordea acted as Green Bond Advisors in connection with the placement of the new bond issue. See Scatec’s Green Financing Framework for details.

An application will be made for the bonds to be listed on Oslo Børs.