Bonds for a principal amount of EUR 600m and a five-year maturity were placed with a coupon of 4.625 per cent, corresponding to a spread of 225 basis points above the Euro Mid Swap rate. The transaction was received very well by the European investors and the book was more than thee times oversubscribed.
“The strong interest displayed by the fixed income investors is a significant recognition of Vestas’ performance and a reflection of Vestas’ credit quality,” says Henrik Nørremark, Executive Vice President and Chief Financial Officer of Vestas Wind Systems A/S. “We are very pleased with the confidence which the investors have shown in Vestas, as it underlines Vestas’ access to a broad variety of capital markets, allowing Vestas to further optimise and diversify its funding structure in favour of longer term borrowings at attractive terms.”
The Bonds will be issued on 23 March 2010 and will be repaid on 23 March 2015. The Bonds will be listed on the official list of the Luxembourg Stock Exchange and admitted to trading on the Luxembourg Stock Exchange’s Regulated Market with initial listing date 23 March 2010. The bonds will have ISIN code XS0496644609.
For further description of the Bonds, please see the Prospectus which will be uploaded too the website of the Luxembourg Stock Exchange.
The issuance of the Bonds does not affect the Vestas Group’s expectations for 2010, ref. company announcement No. 3/2010 of 10 February 2010.
With a 20 per cent of wind energy market share, and more than 40,000 wind turbines installed, Vestas is the world’s leading supplier of wind power solutions.