TenneT completes bond issue

04-02-2010 Following the press release published 2 February 2010, TenneT Holding B.V. confirms the issuance of € 1 billion of senior bonds and € 500 million of subordinated (hybrid) bonds.

The senior bonds will be issued under the Euro Medium Term Note Programme. The first € 500 million tranche has a maturity date of 9 February 2015, an issue price of 99,809 and a coupon of 3,25% . The second € 500 million tranche has a maturity date of 9 February 2022, an issue price of 99,247% and a coupon of 4,50%. 

The € 500 million subordinated (hybrid) bonds have a perpetual tenor, an issue price of 100,000% and a coupon of 6,655%. TenneT has a right to call these bonds starting 1 June 2017.  

The issue date of all bonds is 9 February 2010. Prospectusses for the Euro Medium Term Note Programme and the issuance of the subordinated (hybrid) bonds, both approved by AFM, are available under Financial publications.

All bonds will be listed on Euronext Amsterdam. The net proceeds will be used by TenneT for the purchase of the German high-voltage grid company transpower and for general corporate purposes.