Amprion secures €1 billion in green hybrid bonds for long-term growth
Amprion GmbH has issued €1 billion in green hybrid bonds, structured as a subordinated financing tool. The bonds were listed on the Luxembourg Stock Exchange and divided into two equal tranches of €500 million each. White & Case provided legal advice to the banking consortium overseeing the transaction. The issuance consists of two 30-year tranches with different coupon rates. The first tranche carries an annual interest rate of 4.250% and can be redeemed as early as July 28, 2031. The second tranche offers a higher annual coupon of 4.750%, with the first possible redemption date set for April 28, 2034.
Both tranches are classified as subordinated debt but receive 50% equity treatment from rating agencies Fitch and Moody’s. This structure is expected to bolster Amprion’s credit profile. The bonds were officially listed on the Luxembourg Stock Exchange under the EuroMTF market. White & Case led the legal advisory work for the banking consortium. Partner Karsten Wöckener headed the team, supported by counsel Peter Becker and associate Robin Pichler.
The €1 billion green hybrid bonds provide Amprion with long-term financing while improving its credit standing. The subordinated nature of the bonds, combined with their equity-like treatment, offers financial flexibility. The transaction marks a significant step in Amprion’s sustainable funding strategy.
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