Funding and rating information
Vestas finances its operations and investments through a combination of its own generated cash flow and external funding.
We are a reliable and valued partner in financial markets. Thereby, cultivating the relationships with our key debt capital investors is an inherent part of our financing strategy.
- File title:
- Prospectus - dated 9 March 2015
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- Company announcement 11/2015 - 4 March 2021
In 2015, Vestas issued a EUR 500m green corporate bond, ref. company announcement no. 11/2015 of 4 March 2015.
The green bond benefits from a second party opinion provided by certification institute DNV GL. The bond allows us to diversify and optimise its funding structure.
The green bond is a general corporate purpose bond and we report on relevant investments in production capacity, R&D, and new products in the audited annual reports.
In addition, Vestas discloses a broad range of its material environmental and social targets and impacts on a corporate level.
|Issuer||Vestas Wind Systems A/S|
|Issue date||11 March 2015|
|Maturity date||11 March 2022|
|Coupon payments||Annual payment 11 March|
|Listing||Luxembourg Stock Exchange|
Our main credit facility, a EUR 2,000 million sustainability-linked revolving credit facility, was signed in April 2021. The facility has a five-year duration with an option to extend the maturity one or two additional years.
The facility is available for general corporate purposes including guarantees issuance in relation with wind power projects.
As part of Vestas’ strategy to bring Sustainability in Everything We Do, the facility’s margin will be closely linked to Vestas’ sustainability KPIs.
The following banks participate in the revolving credit facility (Mandated Lead Arranger and Bookrunner in alphabetical order):
- Banco Santander
- BNP Paribas
- Danske Bank
- JP Morgan
- Skandinaviska Enskilda Banken
- Société Générale
- Standard Chartered
We have solicited a credit rating from one rating agency: Moody’s.
Moody’s assess Vestas according to two main parameters:
- Business risk analysis, comprising industry characteristics, competitive position, management, and business strategy.
- Financial risk analysis, comprising financial policy, cash flow protection, profitability, capital structure, and financial flexibility.
Current rating and outlook
|Agency||Long-term rating||Outlook||Latest rating action||Rating analyst|
|Moody’s||Baa1||Stable||2 February 2021
Initial Credit Opinion
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