SSE PLC

Capital/Financing Update • Sep 20, 2019

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RNS Number : 1796N

SSE PLC

20 September 2019

NEW 16 YEAR GREEN BOND

Scottish Hydro Electric Transmission plc ("SHET") has successfully issued its inaugural Green Bond, a sixteen year £350m euro bond maturing September 2035 with a coupon of 2.25 per cent.  Today's issuance is SSE plc Group's ("SSE") third Green Bond in three years, affirming SSE as the largest issuer of Green Bonds from the UK corporate sector and is additionally the only UK corporate to offer up multiple benchmark sized tranches in the Sterling and Euro markets.  The all-in funding cost is 2.32 per cent.  

This issuance will help SHET and SSE to take a leading role in supporting the transition towards a low carbon future, through their plans to continue to invest in renewable energy infrastructure.

Gregor Alexander, Finance Director of SSE, said: "In line with our innovative approach to financing investment and as a major investor in the UK and Ireland's renewable energy infrastructure, we are pleased that our first Sterling Green Bond continues to show SSE's focus on sustainability and responsibility principles. An improving sustainability performance is good for SSE, good for our investors and good for society as a whole.  This funding is consistent with our commitment to maintain a strong balance sheet and strong market rating, and has been secured with a longer tenor at very attractive pricing."

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