This issue will be used to refinance the bonds maturing in 2022 and shore up the implementation of Nortegas’s strategic plan, focused on maximising growth in its customer base and developing energy solutions to contribute to decarbonisation and sustainability.

Nortegas, the second natural gas distributor nationwide, has opened the 2021 debt market by successfully completing a bond issue of €550 million, which will allow the company to refinance the existing bonds maturing in 2022.

The bonds, issued for 10 years and accruing a coupon of 0.905%, are rated BBB- (stable outlook) by Standard & Poor’s.

The success of the issue will allow Nortegas to focus on the implementation of its strategic plan, based on its commitment to decarbonisation and sustainability. To this end, Nortegas has been working on different projects that position it as a key player in the energy transition.

Nortegas, committed to the energy transition

Nortegas has recently announced that it will be taking part in the development of the first green hydrogen plant in Spain, specifically in Amorebieta (Bizkaia), along with Sener, White Summit Capital, Castleton Commodities Internacional (CCI) and Bizkaia Energía. The plant is expected to be operational in 2022 and to generate 1,500 tons of green hydrogen a year from 100% renewable sources.

Hydrogen has become a key energy product for the world economy in recent years. Both the European Commission and the Government have expressed their commitment to this clean and sustainable energy alternative. Nortegas is constantly working on research and development in projects focused on the hydrogen value chain. The main aim is to develop advanced solutions for the distribution and use this renewable gas in the natural gas distribution network in order to decarbonise part of current energy consumption.