Fossar to manage Reykjavik Energy‘s first green bond auction
Reykjavik Energy (OR) has decided to conduct its first auction of Green Bonds on Wednesday, February 13. Fossar Markets will manage the auction.
The offered series OR 180255 GB will be admitted to trading on Nasdaq Iceland Sustainable Bond market. The series is an indexed annuity with payments twice a year and will mature on February 18, 2055.
The offer will be closed with a Dutch method where all bonds will be sold at the highest yield accepted. Reykjavik Energy reserves the right to accept any offer partially or in full, or refuse all offers.
Results of the offering will be officially published no later than the next business day.
Minimum bid for the auction is 20.000.000 ISK.
What are green bonds?
Green bonds are bonds that are issued in order to fund projects that reduce the greenhouse gas emissions and therefore counteract global warming and its hazards. Public and private efforts to prevent climate change, in addition to increased awareness among investors has driven the issuance of green bonds.
All issuers that invest in environmentally friendly projects can issue green bonds; governments, municipalities and companies.
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