Global law firm White & Case LLP has advised Eurogrid Group on the issuance of two tranches of fixed rate notes issued by Eurogrid GmbH and guaranteed by 50Hertz Transmission GmbH and 50Hertz Offshore GmbH with an aggregate principal amount of €1.5 billion.
The first tranche has a principal amount of €650 million, a three-year term and a fixed interest rate of 3.075% per annum. The second tranche has a principal amount of €850 million, an eleven-year term and a fixed interest rate of 3.732% per annum. Both tranches were issued as green bonds. Eurogrid GmbH intends to use an amount equal to the net proceeds from these issuances of the notes to finance, refinance and/or invest in eligible green projects in line with its Green Bond Framework.
The notes of both tranches were admitted to trading on the regulated market of the Luxembourg Stock Exchange.
The White & Case team in Frankfurt which advised on the transaction was led by partner Karsten Wöckener and included local partner Peter Becker and associate Darleen Stöckl.
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