European Energy issues EUR 300m green bonds and EUR 45m green revolving credit facility

Plesner is representing European Energy in connection with an issuance of EUR 300,000,000 senior unsecured green bonds due 2025 (the "Green Bonds") and concurrent establishment of a new EUR 45,000,000 green revolving credit facility (the "Green RCF").

The Green Bonds were successfully priced on 1 September 2021 with an interest rate of EURIBOR 3-months (zero % floor) plus 3.75%. The net proceeds of the Green Bonds will be used in accordance with European Energy's new Green Finance Framework, including towards repurchase and redemption of the company's existing EUR 200,000,000 senior secured green bonds (the "Existing Bonds") pursuant to a combined tender offer and early redemption process.

The new Green Bonds provide for a full reset of the terms and conditions of European Energy's senior bonds which have been designed to provide flexibility for the company to develop its capital structure and to support the company's strategic ambitions and growth trajectory.

Plesner advised European Energy on all aspects of the transaction, including (i) the issuance of the new Green Bonds and the related reset of terms; (ii) the establishment of the new Green RCF; (iii) the tender offer and early redemption process in respect of the Existing Bonds; and (iv) the development of the new Green Finance Framework.

Green and sustainable financing is a key focus for Plesner and we are pleased to represent European Energy on this successful green financing transaction.

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