Hydro obtains The Department of Energy (DOE) awarded Aluminum Association member Hydro $17.4 million through Inflation Reduction Act tax credits to advance new technologies for the automotive industry at its aluminum recycling plant in Henderson, Kentucky.
Separately, Norsk Hydro ASA has successfully issued €500 million in senior unsecured green bonds under its Euro Medium Term Note (EMTN) Program. The new bond has a term of 7 years and a fixed annual coupon of 3.625 percent (reoffer yield of 3.649 percent).
“We are very pleased to have completed such a successful placement and to have issued our inaugural green bond. The strong interest confirms that Hydro is considered an attractive investment for bond investors. We are pleased to have achieved highly competitive terms,” says CFO Trond O’Neill.says CFO Trond Olaf Christophersen.
The proceeds from the bond issue will be allocated to eligible projects as defined in Hydro’s Green and Sustainable Financing Framework, and will contribute to advancing Hydro’s strategy of accelerating the transition to green aluminum.
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