Financing
Solid access to finance is essential for our ability to make the investments needed for the energy transition. Thanks to a consistent financial strategy and strong relationships with investors and partners, Alliander creates scope to continue to invest in a reliable, sustainable and future-proof energy system. Transparency on our performance and ratings foster confidence and long-term partnerships.
Financial programmes
Alliander uses various financial programmes to raise funds for investments in the energy system. Designed based on maturity, purpose and market conditions, these programmes contribute to a stable funding base and support the development of a reliable and sustainable energy system.
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Depending on the nature, duration and purpose of the financing, Alliander uses various financing instruments. The main sources of financing for Alliander are:
Debt Issuance Programme:
maximum EUR 10,000,000,000
The Debt Issuance Programme programme allows the issue of bonds with maturities above two years in a number of currencies with a maximum aggregate principal amount of bonds outstanding of EUR 10,000,000,000. Under ‘Bond issues’ more information can be found on the bonds issued under this programme.
Arranger: NatWest. Dealers: ABN AMRO, BNP Paribas, ING, Morgan Stanley, NatWest, Rabobank and RBC.
Euro Commercial Paper (ECP):
maximum EUR 1,500,000,000
Alliander has 2 ECP programmes: a “Green” ECP program and a “Classic” ECP program. On the basis of these programs, Alliander can issue debt securities with maturities up to one year, denominated in a number of currencies. The maximum aggregate principal amount of the outstanding debt securities is EUR 1,500,000,000. Alliander will focus on the issuance of Green ECP.
Arranger: Citigroup Global Markets Europe. Dealers: ABN AMRO Bank, BNP Paribas, Citigroup Global Markets Europe, Coöperatieve Rabobank, ING Bank and NatWest Markets.
Loan European Investment Bank (EIB):
EUR 300,000,000
The EIB loan has been made available to Alliander on 21 July 2017. The full amount will be drawn in three separate tranches in 2017 and 2018, all with bullet repayment in 2031. The proceeds of the loan are exclusively allocated to finance parts of the renewal and expansion of the electricity distribution network of Liander.
Private placements
Alliander has a number of loans with banks, municipalities and provinces.
Committed back-up credit facility:
EUR 900,000,000
This committed credit facility of EUR 900,000000 has a maturity until the end of December 2026 and can be used to finance general business operations. The facility serves as a backup facility and has not been used since the start date. In 2022 and 2023, Alliander has the option to extend the term for 1 year no later than December 2028.
The banks involved in this credit facility are BNP Paribas, NatWest Markets, ING Bank, Rabobank, Morgan Stanley Bank, ABN AMRO Bank and Royal Bank of Canada.
Convertible shareholder loan:
EUR 600,000,000
On December 2, 2021, Alliander took out a reverse convertible shareholder loan in the amount of EUR 600 million. Virtually all shareholders participate in this loan on a pro-rata basis.
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Senior green bonds
Issuing green bonds enables us to raise funds for targeted investment in projects that contribute to the energy transition. In this way, we link financing arrangements directly to sustainable impact and the development of a future-proof energy system. Here’s a run-down of bonds issued.
Subordinated green bonds
We use subordinated green bonds to create additional financial leeway to be able to make substantial investments in the energy system. They bolster our financial stability, thus contributing to a future-proof energy infrastructure.
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| Issuer | Trade date | Expire data | Amount outstanding | Coupon | Status | ISIN Code |
|---|---|---|---|---|---|---|
| Alliander N.V. | 2 oct 2025 | Perpetual | € 500.000.000 | 4,125% | Subordinated | XS3193906180 |
| Alliander N.V. | 27 jun 2024 | Perpetual | € 500.000.000 | 4,50% | Subordinated | XS2829852842 |
Downloads
- Debt Issuance Programme
- Alliander Hybrid prospectus 25 June 2024
- Press release Moody’s
- Press release S&P
Green finance docs
Credit ratings
Credit ratings are an independent assessment of our organisation’s stability and creditworthiness. This assessment underpins the trust investors and partners place in us.
ESG ratings
ESG ratings provide insight into Alliander’s performance in respect of the environment, social aspects and good governance. They inform responsible investment decisions and are a measure of how the company creates sustainable value for the long term.
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|
ESG Ratings | |
|---|---|
| ISS ESG rating | Prime B rating |
| Sustainalytics | Medium Risk rating |
| MSCI | AA rating |
Debt maturity
Debt maturity shows when Alliander must repay its financial obligations and how they are spread over time.
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Green Finance Framework
Alliander’s Green Finance Framework is the basis for all our efforts to raise sustainable financing and link investments to specific climate and social goals. Within this framework, funds raised are used in a targeted manner for projects that contribute to the energy transition, such as renewable energy, energy efficiency, and a future-proof energy system.
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Under this Green Finance Framework, Alliander has the ambition to issue Green Finance Instruments (which may include drawn instruments such as bonds, loans and commercial paper) to finance and / or refinance environmentally impactful projects.
Alliander follows the recommendation of the ICMA Green Bond Principles in relation to External Verification and has engaged ISS ESG to review and provide a Second Party Opinion (SPO) on this Framework.