Despite the macroeconomic circumstances, the tap was met with strong demand from the Company’s existing bondholders in an exchange offer, as well as new institutional investors across Europe.
‘We are very pleased with the continuing support of our existing investors, demonstrated by their acceptance of the exchange offer, as well as the appetitte from new institutional investors within the private placement. In view of the current uncertainties on the capital markets, we consider this as a vote of confidence for our business model and growth strategy, as well as our stringent capital market communication in recent years,’ said Clemens Wohlmuth, CFO of Photon Energy Group.
The green bond – now with a nominal value of EUR 75 million, a 2027 maturity and an interest rate of 6.50% p.a., paid quarterly – has been assessed with regards to its sustainability by imug | rating, by way of a Secondary Party Opinion. It has been trading on the Open Market of the Frankfurt Stock Exchange since 23 November 2021.
Bankhaus Scheich Wertpapierspezialist AG, Frankfurt am Main, has acted as sole global coordinator and bookrunner for the bond placement. Multinational law firm Mayer Brown has acted as legal advisor for the transaction.
The Company intends to use the net proceeds of the green bond placement to finance or refinance, in part or in whole, new and/or existing eligible assets, as well as financial instruments that were used to finance such projects or assets, in accordance with the Company’s Green Financing Framework. This will enable Photon Energy Group to continue its significant contributions to an environmentally friendly future.
Learn more about Photon Energy Group’s Green EUR Bond 2021/2027 here.
