BAKU, Azerbaijan, July 16
By Leman Zeynalova - Trend:
Axpo Holding AG, Swiss shareholder of the Trans Adriatic Pipeline (TAP), has placed a green bond on the Swiss capital market via a digital capital market platform for the first time on 15 July 2020, Trend reports citing the company.
“The net proceeds of this CHF 133 million fixed-income note will be used to fund projects in the photovoltaic and wind energy sectors. This will help Axpo to strengthen its position as the largest Swiss producer of renewable energies and to expand its base of investors,” said the company.
The huge interest shown by investors in the bond confirms that Axpo is on the right strategic path to profitable growth in renewable energies. Axpo has long been Switzerland’s largest producer of renewable energies thanks to its investments in hydroelectric power and biomass plants. Axpo has also carved out a leading position in Europe with its wind and solar parks and in the marketing of renewable energies. Axpo recently received an ESG rating of “C+" from ISS Oekom. This ranks Axpo among the leading companies surveyed in the utilities sector.
Axpo Holding AG’s green bond in the amount of CHF 133 million has a coupon of 1.002% and a term of 7 years. The bond is scheduled to be paid out in full on 23 July 2020.
The net proceeds of the green bond will be used for photovoltaic projects and wind projects. The structure of the green bond is set out in the Axpo Green Bond Framework, which is based on the Green Bond Principles of the International Capital Market Association (ICMA).
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