The bond has an annual coupon of 8%, which with an equal quarterly payment schedule. The subscription period starts on February 25th 2013, the initial offering on the Frankfurt Stock Exchange Open Market is planned for March 12th 2013. The bond offers investors a very attractive investment in a business model with a proven track record.
Dutch-based Photon Energy Investments N.V., a division of global solar power solutions and services company, Photon Energy N.V., has today published details of its planned corporate bond issue, with a placement volume of up to 40 Mio. EUR. The bond offers an attractive 8% annual coupon and an equal quarterly payment schedule. Thanks to the companys business model of building sustainable income-generating assets, the investment can be characterised by very attractive long-term cash flows with a relatively low and calculable risk profile. The bond can be subscribed to at a denomination of 1,000 EUR from February 25th 2013.
All necessary information as well as the bond prospectus can be found on www.photonenergyinvestments.com
The company plans to invest the placement volume in the expansion of its worldwide portfolio of profitable power plants. Photon Energy Investments targets markets with a high growth potential, such as North America, Australia, Romania and Turkey.
Facts and figures:
Issuer: Photon Energy Investments N.V.
Planned issue volume: 40 Mio. EUR
Coupon: 8% annually, with an equal quarterly payment schedule
Substription period / Initial offering: 25. 02. 2013 / 12. 03. 2013
Placement / Stock exchange segment: Public placement in Germany, Austria, Czech Republic, Slovakia and Poland. / Secondary market: Open Market / Quotation Board on the frankfurter stock exchange.
Company rating: BB- (Creditreform)
Covenants: Pari passau-Equal seniority of existing and future unsecured claims
No profit distribution to the parent company during term
Equity ratio must always be at least 25%*
Negative pledge
Change-of-control clause
Cross Default
No cash pooling with parent or sister company
Denomination: 1.000 EUR / 100%
Term / Redemption: 5 Years / 12th March 2018 at par
WKN / ISIN: A1HELE / DE000A1HELE2
Use of proceeds: As equity contribution in the acquisition of PV solar power assets, with priority given to the markets of North America and Australia, and secondarily to Romania and Turkey.
*Subject to current legal framework requirements. The sum of interest-bearing debt capital and equity capital are used as total capital to determine the Equity ratio
