Dong Issues Hybrid Securities of EUR 600 Million

Dong Energy has issued hybrid securities of EUR 600 million with first par call date on 6 November 2020.

The new issuance is a refinancing of the existing hybrid security issued in 2005, which will be called on its first par call date being 29 June 2015.

The maturity date for the hybrid securities is 6 November 3015 with the first par call  on 6 November 2020.

Other details of the new hybrid security:

  • Nominal amount: EUR 600 million
  • Issue spread over 5.5 year Euro Mid-Swap Rate: 281.9bp
  • Fixed Coupon Rate until first par call date: 3.0%
  • Price: 99.512% of nominal amount
  • Orderbook: More than 2x oversubscribed
  • Listing: Luxembourg
Image: dong energy