...November 29, 2022 - Orsted A/S intends to issue 500 million of unsecured subordinated green hybrid securities and use the proceeds mainly for hybrid refinancing purposes. - The company also intends to launch a tender offer for its 6.25% subordinated green hybrid instrument (the NC2023), with a first call date in 2023, of which there remains 350 million outstanding. - We understand that Orsted intends to keep the remainder of the proposed issuance as a permanent part of its capital base, which will therefore increase by 150 million. - We assigned our '##+' issue rating to the proposed green hybrid security to reflect its subordination and optional deferability. We assess it as having intermediate equity content. STOCKHOLM (S&P Global Ratings) Nov. 29, 2022--S&P Global Ratings said today that it has assigned its '##+' issue rating to the proposed, optionally deferrable, and subordinated green hybrid capital security to be issued by Orsted A/S (###+/Stable/A-2). The issuance of the 500 million...
