Argentine power company Genneia has successfully raised USD 60 million (EUR 56 million) through the issuance of a dollar-linked green bond on the domestic market, surpassing its initial target and attracting substantial investor interest.
Initially planning to raise USD 20 million across two tranches, Genneia received bids totaling over USD 90 million, prompting the company to fully allocate the maximum amount to the dollar-linked tranche. This tranche features a fixed coupon of 2% and matures in June 2026, issued at a price of 103.1% with a yield of 0.4%.
Due to the robust demand for the dollar-linked bond, Genneia decided to cancel the two-year hard-dollar tranche originally offered.
The new green bond issuance will be listed on the Panel of Social, Green, and Sustainable Bonds (SVS) of Argentina's local stock exchange, ByMA, marking Genneia's 14th instrument with a green label.
Genneia plans to utilize the proceeds from the bond to advance new solar and wind projects, as previously announced.
