TenneT Netherlands issues 1.5 billion euro green bond

TenneT Netherlands has successfully issued a 1.5 billion euro green bond with a five-year maturity. The issuance is backed by an irrevocable and unconditional guarantee from the Dutch State and is expected to receive Aaa ratings from Moody’s and AAA ratings from Standard & Poor’s.

The bond, which will be listed on Euronext Amsterdam, carries a coupon of 3.625 percent. The offering saw significant international demand, with an order book exceeding 3.8 billion euros. The transaction was priced at a spread of 18.9 basis points above the Dutch State reference loan and 3 basis points above the swap curve.

This issuance completes TenneT Netherlands’ 2026 financing program, bringing the total amount raised through state-guaranteed green bonds this year to 6 billion euros. The proceeds are earmarked for investments in the electricity grid, connection services, and interconnectors.