White & Case advises bank consortium on Amprion’s €1 billion green hybrid bond issuance

Global law firm White & Case LLP has advised a consortium of banks on the issuance of two unsecured green hybrid bonds with an aggregate principal amount of €1 billion by Amprion GmbH (Amprion) under its €25 billion Debt Issuance Programme.

The first tranche has a principal amount of €500 million, bears interest of 4.250 percent per annum and has a term of 30 years, with a first issuer call date set for July 28, 2031. The second tranche has a principal amount of €500 million, bears interest of 4.750 percent per annum and has a term of 30 years, with a first issuer call date set for April 28, 2034.

The green hybrid bonds are a subordinated form of financing for which, due to its structure, rating agencies Fitch and Moody’s grant a 50 percent equity credit. This, in turn, contributes to further strengthening Amprion’s rating profile. Amprion intends to use an amount equivalent to the net proceeds of the notes to finance and/or refinance eligible assets set out in its Green Financing Framework.

The green hybrid bonds were admitted to trading on the Luxembourg Stock Exchange (EuroMTF).

The White & Case team in Frankfurt that advised on the transaction was led by partner Karsten Wöckener and included counsel Peter Becker and associate Robin Pichler.

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