Genesis joins the green bond surge with $240m offer

Genesis's 60MW hydro station at Tuai. (Image: Genesis)

Mon, 26 Jun 2023

Genesis Energy has opened its offer for $240 million worth of 30-year green capital bonds to New Zealand investors.The bonds, as unsecured, subordinated interest-bearing debt securities, are expected to be rated as BB+ and oversubscriptions will be accepted at its discretion.By the end of May, Genesis had $660m worth of bonds and bank debt facilities listed under its sustainable finance framework and a total of $250m of 'sustainably linked' loans, which incentivise the group to meet sustainability targets, including emission reductions....

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