Commentary & Deal Flow

Final Books > €1.25bn. Peak book > €1.6bn.

Launched: 8.75yr: €750m @ MS+65bp - Books > €1.55bn (at MS+65 pre-rec)
Spread set at: 8.75yr: MS+65bp - Books > €1.6bn
IPTs: 8.75yr: MS+95/100bp

• Issuer: Statnett SF
• Ticker: STATNE
• Country: NO
• LEI Code: 5967007LIEEXZXHAI017
• Ratings: A2 (Stable) by Moody’s, A+ (Stable) by S&P
• Expected Issue Rating: A+ by S&P
• Format: Reg S, Bearer, NGN
• Ranking: Senior Unsecured
• Size: €750m
• Settlement: 23-Jun-26 (T+5)
• Maturity Date: 20-Mar-35 (8.75-year)
• Coupon: Fixed, Annual, Act/Act (ICMA), Short First Coupon
• Business Days: T2, Oslo
• ISIN: XS3417524421
• Use of Proceeds: To finance/refinance Eligible Projects meeting the Eligibility Criteria set out in Statnett’s Green Bond Framework 2024
• Documentation: EMTN / Euronext Dublin (Regulated Market) / English Law / €100k + €1k / CoC Put at par/ Clean-up call (80%) at par / 3m Par Call / MWC (Partial or in Whole) / Tax Call (at par)
• Joint Bookrunners: Barclays (B&D), BNP Paribas, Danske Bank, DNB Carnegie, NatWest
• Reference Benchmark: DBR 2.5 15-Feb-35 (TWIN) / HR 99%
• Hedge Deadline: 15.25 UKT / 16.25 CET
• Selling Restrictions: As stipulated in the EMTN Programme dated 21-May-26 (Reg S Category 2, TEFRA D)
• Target Market: Manufacturer target market (MiFID II product governance / UK MiFIR product governance rules) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) or FCA Product Disclosure Sourcebook (DISC) disclosure document has been prepared as the bonds are not available to retail in EEA or the UK.
• Marketing: Investor Presentation available on the Issuer’s website at: https://www.statnett.no/en/about-statnett/investor-relations/investor-presentation/
• Advertisement: The Base Prospectus is available and the Final Terms, when published, will be available at: https://www.euronext.com/en/markets/dublin
• Green Bond Framework: The GBF 2024, the SPO from S&P Global Ratings, and the Allocation and Impact report are available on the Issuer's website (https://www.statnett.no/en/about-statnett/investor-relations/green-financing/)
• Schedule: Books open, today's business