50Hertz emites €500 M corporate bonds

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
50Hertz emites €500 M corporate bonds

A subsidiary of the transmission system operator 50Hertz, Eurogrid GmbH, has emitted a corporate bond over €500 million (US$55.4 million).

The bond has a denomination of €100 with a duration of 10 years and a coupon of 1.875 %. The issuance was done via Bourse Luxembourg where the bond will also be traded. This bond emission is the second one in the companies’ history. In 2010 Eurogrid had already issued a bond, but today this could take place under different circumstances and in a more attractive interest rate environment compared to 2010.

Udo Giegerich, CFO at 50Hertz, stated:

"Instruments like such bonds are the cornerstones of our long term and efficient corporate financing. They are needed for the huge investments that lie ahead of us."

The company is planning to invest around 5.4 billion Euros during the next decade. The money goes into the development of the transmission grid including offshore wind park connections.

With over 900 collaborators, 50Hertz handles the operation and the expansion of the transmission network. Furthermore, the company is responsible for the management of the overall electrical system throughout the German Länder of Berlin, Brandenburg, Hamburg, Mecklenburg-Western Pomerania, Saxony, Saxony-Anhalt and Thuringia.

As transmission system operator active in the Central European market, 50Hertz is responsible for the secure integration of renewable energies, the development of the European electricity market and for maintaining a high level of security of supply. Since 2010, Belgian grid operator Elia and Australian infrastructure fund IFM Investors are shareholders of 50Hertz, holding stakes of 60% and 40% respectively.

List of country news

Country news

  • June 24, 2015

    DONG Energy achieves construction milestone for Gode Wind 1 and 2 offshore wind farms

    DONG Energy has completed the installation of both substation platforms for the 330 MW Gode Wind 1 and the 252 MW Gode Wind 2 wind farms in Germany. Read more
  • June 26, 2015

    SUSI Renewable Energy Fund II acquires four wind and solar parks

    The SUSI Renewable Energy Fund II has recently acquired four wind and solar parks in France, Germany and Portugal. Read more
  • July 02, 2015

    Financial close for Veja Mate offshore wind farm

    Highland Group Holdings (HGHL), Siemens Financial Services and Copenhagen Infrastructure II have close financing for the 400 MW Veja Mate offshore wind farm project in Germany. Read more
  • July 07, 2015

    PGGM acquires stake in German offshore wind farm

    Dutch pension fund manager PGGM has announced that it will acquire a stake in the new 288 MW Baltic 2 offshore wind farm in Germany from Macquarie Capital. Read more
  • July 07, 2015

    Alstom, DEME and Merkur Offshore sign a contract for the 400MW MEG 1 offshore wind

    Merkur Offshore has signed with respectively Alstom and DEME a binding Turbine Supply Agreement and Balance of Plant Contract for the construction of the 400 MW offshore wind farm MEG 1 in the German North Sea. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.