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Deed of Undertaking concerning hybrid capital security due 3015


Published Nov 12, 2015
Dong Energy - Gode Wind 1

Further to DONG Energy’s announcement on 27 October 2015, where DONG Energy communicated that it was looking into possible ways to re-establish the ‘Intermediate’ (50%) equity content of its outstanding EUR 600,000,000 3.0% hybrid capital security due 3015 (ISIN XS1227607402), (the “Capital Securities”) with Standard & Poor’s, DONG Energy has executed a Deed of Undertaking (the “Deed”).

In the Deed, DONG Energy irrevocable waives the right to call and redeem the Capital Securities in case of a loss in equity content following a hypothetical downgrade in its senior rating to non-investment grade. The Deed is for the benefit of the Trustee and the holders of the Capital Securities.

Tags: DONG Energy




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