Gasunie issues 20-year € 500 million Green Bond

• Tightest 20-year Green tranche brought to market so far in 2024.
• Highest absolute demand and lowest new issue concession ever on a Gasunie bond.

Gasunie CFO Janneke Hermes says, "2024 marks the acceleration of the construction of projects in our ambitious energy transition investment programme. We are breaking first ground for the first large-scale Dutch carbon transport and storage system and for the first part of the Dutch national hydrogen transmission network. These are long-term projects that can contribute to avoiding many megatonnes of carbon emissions."

The new Gasunie bond is only the sixth 20-year corporate EUR tranche issued so far in the EUR Corporate Bond market in 2024. Never before has Gasunie issued a bond with such a long maturity. In line with Gasunie's Green Financing Framework, the proceeds will be used to invest in eligible green projects in the Netherlands and Germany that focus on infrastructure for renewable and low-carbon gases such as hydrogen transport, or on the storage of hydrogen, on carbon transport and storage, or on the transport of heat.

Further details on these projects and the project selection process are set out in Gasunie's Green Financing Framework, for which ISS ESG has provided a Second Party Opinion. In 2023 Gasunie was the first gas transmission system operator in the eurozone to issue a Green Bond, bringing the total amount of Green Debt raised to finance the energy transition to € 800 million. The Framework and the Second Party Opinion can be found on the Gasunie website.

The transaction was supported by BNP Paribas, ING, NatWest and Rabobank as joint lead managers, with De Brauw Blackstone Westbroek and Allen & Overy providing legal assistance.

The hydrogen pipelines for the new hydrogen network in the Netherlands are lifted off the train in Rotterdam.