ESB has today (May 21st, 2015) successfully priced a €500m 2.125% fixed-rate bond maturing in June 2027, in addition to announcing a Tender Offer to buy back a portion of the Group’s existing bonds. This offer will expire on 29th May. 

The bond priced today is being purchased primarily by European institutional investors and the total amount of orders received was over EUR 3 billion reflecting investor confidence in ESB. 

This transaction follows ESB's successful extension in January of a €1.44bn Revolving Credit Facility to January 2020, with an option for a further two year extension. 

Commenting today, ESB’s Finance Director Donal Flynn said; “This successful bond placement helps us to extend the maturity of our long-term debt at very competitive rates, and enables us to manage the profile of our debt maturities through the buy back transaction.”

The placement was managed by Barclays, HSBC, J.P. Morgan, RBC and Société Générale. 

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About ESB

ESB is Ireland’s foremost energy company. ESB is the monopoly owner of the distribution and transmission networks in the Republic of Ireland and Northern Ireland (through its subsidiary Northern Ireland Electricity), with a combined Regulated Asset Base of c.€8.8bn. With 4.3GW of capacity and a 42% market share, ESB holds the largest generation portfolio in the All-Island Market and – through Electric Ireland – holds a 37% supply market share, providing energy to 1.5m customers. The Group is 95% state-owned, with the remaining 5% held by an Employee Share Ownership Trust.