REN - Redes Energéticas Nacionais raised 300 million euros through an oversubscribed green bond issuance with an eight-year maturity and a 3.614% interest rate.

Investor demand was high, with bids totaling 2050 million euros, nearly seven times the offered amount, indicating a robust interest in sustainable investments.

The bond attracted international investors from Germany, France, Portugal, and the UK, demonstrating confidence in REN's sustainability projects such as green hydrogen and renewable energy.

Positive credit ratings by Fitch, Standard & Poor’s, and Moody’s have been attributed to REN's focus on sustainability, reinforcing its strong market position.

REN is backed by notable shareholders including China's State Grid and Pontegadea, owned by Amancio Ortega, the founder of Zara, enhancing its financial credibility.

The successful bond issue is in line with REN's conservative financing strategy and follows an 18.2% net profit increase for the first nine months of the year.

This is REN's second green bond issuance, with the first in April 2021, and it was managed by a syndicate of prominent banks, signaling a continued shift towards sustainable financing.

REN's current stock price stands at 2.235 euros, with the anticipation of the full-year 2023 financial results due on March 6, reflecting the company's solid financial health.