Expected bond issues by TenneT

21-01-2010 TenneT Holding B.V., the Dutch 100% state-owned high-voltage grid company, has received a senior unscecured rating of 'A-' from S&P, as announced by the rating agency today. The rating takes into account the expected acquisition by TenneT of transpower stromübertragungs gmbh.

Furthermore, it has mandated Barclays Capital, BNP Paribas, ING and RBS as joint bookrunners for a Euro-denominated senior bond issue. It has also mandated ING and RBS as joint bookrunners for a Euro-denominated subordinated (hybrid) bond issue. 

The issues are expected to be launched shortly subject to market conditions and after investor meetings in a number of European cities next week.