Orsted A/S, the Danish company built on oil and gas extraction, will issue its first green bonds as it moves toward completing a transition to renewable energy.
Orsted, which sold its oil division earlier this year, plans to offer a hybrid note due in 3017 (it’s a 1,000-year bond) and a senior unsecured bond maturing in 2029, the company said in a statement Thursday. Both will be so-called green bonds, which means proceeds must be used to fund projects with positive environmental benefits.
Orsted, formerly known as Dong Energy A/S, already is the world’s largest developer of offshore wind parks as well as Denmark’s main utility. The Copenhagen-based company sold its North Sea oil and gas production division to