Green bond Alerion Clean Power 3,125% 2025 euro XS2083187059
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  1. #1

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    Green bond Alerion Clean Power 3,125% 2025 euro XS2083187059

    Vi avviso che sul mot a breve alerioncleanpower lancia green bond a 7 anni tasso intorno al 3% fisso, quotato anche a borsa dublino, senza rating e non subordinato, anche i privati possono acquistarlo. Il green bond a differenza delle obbligazioni ha un suo programma con date certe ed obiettivi certi e serve per comprare nuovi aprchi da terzi e realizzare i propri ( quelli aggiudicati gia in questa asta ) e per rifacimento impianti ( monte petrasi? )

    ALERION CLEAN POWER SPA GREEN BOND
    DNV GL ELIGIBILITY ASSESSMENT
    Scope and objectives
    Alerion Clean Power S.p.A. (“ALERION” or “Issuer”), is an industrial group listed on the Milan Stock
    Exchange, specializing in the production of electricity from renewable sources, particularly in the wind
    sector.
    ALERION has developed a Green Bond Framework and is considering the issuance of a Green Bond in
    EURO (henceforth referred to as “BOND”) and would like to label the issuance as a “Green Bond” as
    defined within the Green Bond Principles 2018 (“GBP”) set out by the International Capital Market
    Association (“ICMA”).
    As per its Green Bond Framework, ALERION intends to use the proceeds of the BOND to finance and
    refinance debts associated with the numerous projects and assets in Europe falling within the following
    categories:
    Renewable Energy:
    • Wind Energy
    o New wind power project design, development, manufacture and construction;
    o Acquisition of operating wind farms;
    o Refinancing of existing wind power generation projects.
    DNV GL Business Assurance Italia S.r.l. (henceforth referred to as “DNV GL”) has been commissioned by
    ALERION to provide a Green Bond eligibility assessment of the ALERION Green Bond Framework and
    proposed BOND. Our methodology to achieve this is described under ‘Work Undertaken’ below. We were
    not commissioned to provide independent assurance or other audit activities.
    No assurance is provided regarding the financial performance of the BOND, the value of any investments
    in the BONDS, or the long term environmental benefits of the transaction. Our objective has been to
    provide an assessment that the BOND has met the criteria established on the basis set out below.
    The scope of this DNV GL opinion is limited to the Green Bond Principles 2018 (GBP).
    Responsibilities of the Management of ALERION and DNV GL
    The management of ALERION has provided the information and data used by DNV GL during the delivery
    of this review. Our statement represents an independent opinion and is intended to inform ALERION
    management and other interested stakeholders in the BOND as to whether the established criteria have
    been met, based on the information provided to us. In our work we have relied on the information and
    the facts presented to us by ALERION. DNV GL is not responsible for any aspect of the nominated assets
    referred to in this opinion and cannot be held liable if estimates, findings, opinions, or conclusions are
    incorrect. Thus, DNV GL shall not be held liable if any of the information or data provided by ALERION’s
    management and used as a basis for this assessment were not correct or complete.
    Page 2 of 11
    Basis of DNV GL’s opinion
    We have adapted our Green Bond Principles methodology, which incorporates the requirements of the
    GBP, to create a ALERION-specific Green Bond Eligibility Assessment Protocol (henceforth referred to as
    “Protocol”). Our Protocol includes a set of suitable criteria that can be used to underpin DNV GL’s opinion.
    The overarching principle behind the criteria is that a green bond should “enable capital-raising and
    investment for new and existing projects with environmental benefits”.
    As per our Protocol, the criteria against which the Green Bond Framework and proposed BOND have
    been reviewed are grouped under the four Principles:
    • Principle One: Use of Proceeds. The Use of Proceeds criteria are guided by the requirement
    that an issuer of a green bond must use the funds raised to finance eligible activities. The eligible
    activities should produce clear environmental benefits.
    • Principle Two: Process for Project Evaluation and Selection. The Project Evaluation and
    Selection criteria are guided by the requirements that an issuer of a green bond should outline
    the process it follows when determining eligibility of an investment using Green Bond proceeds
    and outline any impact objectives it will consider.
    • Principle Three: Management of Proceeds. The Management of Proceeds criteria are guided
    by the requirements that a green bond should be tracked within the issuing organization, that
    separate portfolios should be created when necessary and that a declaration of how unallocated
    funds will be handled should be made.
    • Principle Four: Reporting. The Reporting criteria are guided by the recommendation that at
    least Sustainability Reporting to the bond investors should be made of the use of bond proceeds
    and that quantitative and/or qualitative performance indicators should be used, where feasible.
    Work undertaken
    Our work constituted a high level review of the available information, based on the understanding that
    this information was provided to us by ALERION in good faith. We have not performed an audit or other
    tests to check the veracity of the information provided to us. The work undertaken to form our opinion
    included:
    • Creation of an ALERION-specific Protocol, adapted to the purpose of the Green Bond Framework
    and the BOND, as described above and in Schedule 2 to this Assessment;
    • Assessment of documentary evidence provided by ALERION on the Green Bond Framework and
    the BOND and supplemented by a high-level desktop research. These checks refer to current
    assessment best practices and standards methodology;
    • Discussions with ALERION management, and review of relevant documentation;
    • Documentation of findings against each element of the criteria. Our opinion as detailed below is a
    summary of these findings.
    Page 3 of 11
    Findings and DNV GL’s opinion
    DNV GL’s findings are listed below:
    1. Principle One: Use of Proceeds. ALERION has developed it’s Green Bond Framework and plans to
    use the proceeds of the BOND to finance and refinance projects and assets including:
    Renewable Energy:
    • Wind Energy
    o New wind power project design, development, manufacture and construction;
    o Acquisition of operating wind farms (operating assets and associated ownership /
    operational corporate entities);
    o Refinancing of existing wind power generation projects.
    DNV GL reviewed ALERION Green Bond Framework and the criteria for the project categories above
    to determine the eligibility of the nominated projects and assets.
    2. Principle Two: Process for Project Evaluation and Selection. The BOND’s proceeds will be
    allocated to acquire, finance and refinance the assets as defined in Schedule 1. DNV GL has reviewed
    evidence that demonstrates that ALERION regularly assesses opportunities for improvement and
    devises action plans and initiatives to mitigate negative environmental and social impacts from its
    operations.
    3. Principle Three: Management of Proceeds DNV GL has reviewed evidence showing how ALERION
    plans to trace the proceeds from the Bond, from the time of issuance to the time of disbursement.
    The full amount of the proceeds will be managed within treasury or equivalent, and thereafter
    disbursed in accordance with the investment commitments and any debt obligations. The details of
    the disbursement and the outstanding value will be tracked using ALERION’s internal financial
    reporting system. At the end of each financial period, ALERION will review the outstanding balance of
    the BOND. As stated above, DNV GL provides no assurance regarding the financial performance of
    the Bond, the value of any investments in the Bond, or the effects of the transaction.
    4. Principle Four: Reporting. ALERION has confirmed that it will provide an annual report on its
    website. This will include description of the green bond proceeds allocation, overview of the projects
    financed or refinanced and the environmental impact, until the full allocation of proceeds.
    On the basis of the information provided by ALERION and the work undertaken, it is DNV GL’s opinion
    that the ALERION Green Bond Framework and proposed BOND meet the criteria established in the
    Protocol and that it is aligned with the stated definition of green bonds within the Green Bond Principles,
    which is to “enable capital-raising and investment for new and existing projects with environmental
    benefits”.
    DNV GL has confirmed that the Use of Proceeds proposed by ALERION in their Green Bond Framework is
    aligned with the United Nations Sustainable Development Goals including 7 “Affordable Clean Energy”, 9
    “Industry Innovation and Infrastructure” and 13 “Climate Action”.
    for DNV GL Business Assurance Italia Srl
    6 September 2019
    Mark Robinson
    Manager, Sustainability Services
    DNV GL – Business Assurance
    Page 4 of 11
    About DNV GL
    Driven by our purpose of safeguarding life, property and the environment, DNV GL enables organisations to advance
    the safety and sustainability of their business. Combining leading technical and operational expertise, risk
    methodology and in-depth industry knowledge, we empower our customers’ decisions and actions with trust and
    confidence. We continuously invest in research and collaborative innovation to provide customers and society with
    operational and technological foresight.
    With our origins stretching back to 1864, our reach today is global. Operating in more than 100 countries, our 16,000
    professionals are dedicated to helping customers make the world safer, smarter and greener.
    Immagini Allegate Immagini Allegate Green bond Alerion Clean Power 3,125% 2025 euro XS2083187059-potenziale-eolico-italia-produzione-potenza-1-.jpg 

  2. #2

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  3. #3

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    14/11/2019

    Attività per l’emissione di un prestito obbligazionario
    Alerion Clean Power: Andamento gestionale dei primi nove
    mesi del 2019
    · Potenza installata lorda al 30 settembre 2019 pari a 514 MW, in
    aumento del 68% rispetto al 30 settembre 2018 (306 MW).
    · Nel solo terzo trimestre 2019 la produzione è stata pari a 123,4
    GWh, in aumento del 130% rispetto alla produzione del terzo
    trimestre 2018 (pari a 54,6 GWh) per effetto dei nuovi
    investimenti effettuati nel 2019.
    · Con il perfezionamento dell’acquisizione del parco eolico di
    Regalbuto, in data odierna, la potenza installata lorda arriva a
    564 MW.




    Il Consiglio di Amministrazione di Alerion Clean Power S.p.A., infine, alla luce
    dell’attuale contesto macroeconomico, ha riesaminato le caratteristiche
    4
    dell’emissione del prestito obbligazionario, senza rating, non convertibile e non
    subordinato di importo complessivo compreso tra Euro 150 e 200 milioni, da
    qualificarsi come green bond, già discusse nella precedente seduta del 23
    settembre u.s. (cfr comunicato stampa del 23 settembre 2019), ed ha deliberato di
    richiedere l’ammissione alle negoziazioni delle obbligazioni presso il mercato
    regolamentato Irlandese di Euronext Dublin, Official List – Regulated Market, con la
    previsione di un dual listing anche sul Mercato Telematico delle Obbligazioni - MOT
    organizzato e gestito da Borsa Italiana, destinando il predetto prestito
    obbligazionario sia al pubblico indistinto in Italia sia ad investitori qualificati in
    Italia. Le obbligazioni verranno offerte per la sottoscrizione attraverso la
    piattaforma del MOT.
    Il prestito obbligazionazionario allo studio potrà avere una durata massima di 7 anni
    e un tasso fisso di circa il 3%. Gli interessi verranno corrisposti annualmente in
    maniera posticipata. Le somme raccolte saranno utilizzate principalmente per
    finanziare l’ulteriore crescita del Gruppo e per ottimizzare la propria struttura
    finanziaria.


    alerion.it: Investor Relations

  4. #4

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    Alerion intends to use the proceeds of the Green Bond to finance or refinance “Eligible
    Green Projects”, which include:
    • New wind power project design, development, manufacture and construction;
    • Acquisition of operating wind farms
    • Refinancing of existing wind power generation projects.
    The acquisition of operating wind farms includes both the acquisition of operating assets as
    well as the acquisition of companies owning authorized and / or operating assets.
    Details on the Eligible Green Projects associated to Alerion’s inaugural Green Bond
    issuance are presented in Appendix A.
    All Eligible Green Projects have been or will be constructed according to European Union
    and national legislation that requires specific environmental screening before receiving the
    building permit.
    Eligible Green Projects are deemed to contribute to climate mitigation by helping to avoid
    or reduce greenhouse gas (GHG) emissions, in alignment with Alerion’s strategy as
    previously discussed.
    Alerion anticipates that Eligible Green Projects will also contribute to the UN Sustainable
    Development Goals number 7 (“Affordable and Clean Energy”), 9 (“Industry Innovation and
    Infrastructure”) and 13 (“Climate Action”).
    2.2. Process for Project Evaluation and Selection
    Alerion’s Green Bond Framework is for the financing and refinancing of wind power
    generation projects as described in Section 2.1.


    http://www.alerion.it/fileadmin/Date...r_2019.vFF.PDF

  5. #5

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    Scommettiamo che i comuni mortali non potranno acquistare il bond in sottoscrizione e se vorranno dovranno poi pagarlo sul mercato con una plus del 2/3% ai soliti fortunati che lo acquisteranno a 100 regalando loro un 2% scucco. Ovviamente il retail di Alerion sempre a guardare (bastava fornire loro una semplice prelazione ma poi magari ci avrebbero pure guadagnato qualche spicciolo) Nulla di nuovo sotto i cachi notrani.

  6. #6

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    prevedo una domanda almeno 3 volte offerta fra istituzionali italiani esteri e ratail, il tasso potrebbe scendere sotto il 3%..considerando che ENEL ne ha emesso uno di GREEN BOND A 0.375% FISSO ANNUO

  7. #7

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    Citazione Originariamente Scritto da loguru Visualizza Messaggio
    Scommettiamo che i comuni mortali non potranno acquistare il bond in sottoscrizione e se vorranno dovranno poi pagarlo sul mercato con una plus del 2/3% ai soliti fortunati che lo acquisteranno a 100 regalando loro un 2% scucco. Ovviamente il retail di Alerion sempre a guardare (bastava fornire loro una semplice prelazione ma poi magari ci avrebbero pure guadagnato qualche spicciolo) Nulla di nuovo sotto i cachi notrani.
    Vai tranquillo che questo te lo danno senza problemi.

  8. #8

  9. #9
    L'avatar di rivetto
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    Citazione Originariamente Scritto da laplaz Visualizza Messaggio
    Vai tranquillo che questo te lo danno senza problemi.
    Ciao, lo penso anche io!

    Il fatto che in origine fosse previsto per solo istituzionali e qualificati (quindi teoricamente taglio 100.000) ed ora venga proposto al pubblico indistinto (presumibile taglio 1000) farebbe pensare che tanto interesse (in prima istanza) su quel facciale (7y-3%) non lo abbiano raccolto.

    Allargare ai retail : 'bella mossa' [Equita, I suppose].

    Saluti

    P.s. ...... emissione in chiusura di anno: l'imposta di bolla è un handicap.
    Ultima modifica di rivetto; 17-11-19 alle 12:58

  10. #10
    L'avatar di crosa83
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    3% passo volentieri!

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