Ørsted A/S Announces Tender Offer for Hybrid Capital Securities

Ørsted A/S, in an effort to manage its hybrid capital portfolio, has launched a tender offer for its EUR 500,000,000 2.25% hybrid capital securities due in 3017, with ISIN: XS1720192696. The announcement, made on 5 March 2024, specifies that the offer is contingent upon the successful issuance of new subordinated green hybrid capital securities.

The purchase price for the capital securities accepted under the offer is set at 98.75%, including accrued interest. The tender offer aims to refinance the existing capital securities and align with Ørsted’s proactive portfolio management strategy. Any securities acquired through the tender will be cancelled and not reissued or resold.

The tender offer commenced today and will expire at 17:00 CET on 11 March 2024. Ørsted plans to announce the results of the offer by 12 March and expects to settle by 14 March 2024. Dealers managing the offer include Citi, Danske Bank, HSBC, J.P. Morgan, and Morgan Stanley.

Ørsted's announcement indicates that this financial maneuver is not expected to affect the company’s financial guidance for 2024. For additional information, stakeholders are encouraged to reach out to Ørsted’s global media relations or investor relations contacts.