Successful debut for Amprion on the international bond market
German transmission system operator Amprion has made a successful debut on the international corporate bond market. The benchmark bond with a nominal volume of 800 million euros was oversubscribed about three times. For Amprion GmbH, this marks the start of regular issuances on the international capital market in the future.
With the proceeds from the placement, the transmission system operator is fulfilling its statutory obligation and will continue to drive forward the expansion of the electricity grid. With the discontinuation of conventional power plants, even more renewable energies from the north will have to be transported reliably and safely to the industrial centres of consumption in the west and south of Germany in the coming years. In this way, Amprion is helping to pave the ground for a climate-neutral energy system. Over the next ten years, the company will invest around €24 billion in transforming the energy system.
"With our debut on the capital market, we are expanding our investor base and strengthening the financing structure of our grid business. In this way, we are taking account of our growing responsibility for the energy transition," sums up Amprion CFO Peter Rüth.
Solid Investment Grade Rating
The bond, with a volume of 800 million euros, has a maturity of 12 years and carries a coupon of 0.625 percent. The issuance was placed as part of the new Debt Issuance Program launched in May. The bond is listed on the Euro MTF of the Luxembourg Stock Exchange. With a denomination of 100,000 euros, the bond is primarily aimed at institutional investors.
Amprion GmbH is rated by rating agencies Moody's and Fitch at Baa1 and BBB+ respectively, with a negative outlook (Moody's) and a stable outlook (Fitch). The bond received a Baa1 rating by Moody's.
The placement was supported by Commerzbank and UniCredit as joint global coordinators and active bookrunners and by ING and SEB as additional active bookrunners. Further bookrunners were DZ Bank, Landesbank Hessen-Thüringen (Helaba), Landesbank Baden-Württemberg (LBBW) and Bayerische Landesbank (Bayern LB).
