National Grid unit raises US$916.7M in 10-year green bonds at 4.716%

What's the deal? National Grid's electricity transmission arm has priced US$916.7M in green bonds carrying a fixed 4.716% coupon and maturing on 12 August 2036. The issuance sits within the group's €20 billion Euro Medium Term Note Programme and was approved by the Financial Conduct AuthorityDealroom has a profile for this one. Try Dealroom →.

How it's structured. The Canadian-dollar denomination broadens the investor base beyond sterling and euro markets. Proceeds are designated to finance or refinance projects that meet National Grid's green finance criteria, although specific projects were not disclosed.

The signal. The roughly 10-year maturity gives the regulated utility long-dated funding for infrastructure supporting the UK's energy transition.

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Image credit: Clint Mason