...March 6, 2024 - Orsted A/S has issued 750 million of unsecured subordinated green hybrid securities, using 500 million of proceeds for hybrid refinancing. - The company also intends to launch a tender offer for its 2.25% hybrid capital securities of 2017/3017 with a first call date in 2024. - We understand Orsted will seek to keep the remainder of the issuance as a permanent part of its capital base, which will increase by 250 million. - We assigned our '##' issue rating to the green hybrid security to reflect its subordination and optional deferability. STOCKHOLM (S&P Global Ratings) March 6, 2024--S&P Global Ratings today said it assigned its '##' issue rating to the 750 million optionally deferrable and subordinated green hybrid capital security from Orsted A/S (###/Stable/A-2). The company will use 500 million of the transaction to replace the existing subordinated 500 million 2.25% hybrid capital securities of 2017/3017 with a first call date in 2024. We view the security, which will...
