The original primary purpose of the bond was to finance the solar-thermal power plant projects in the American Southwest.
The change in technology from solar-thermal to photovoltaics had already been documented a few weeks ago in a supplement to the bond prospectus. The subsequently initiated negotiations on a sale of the project pipeline are still under way.
By closing the bond, the Executive Board of Solar Millennium AG in this situation offers clarity for investors willing to subscribe. Payments that have been made but where the bonds have not yet been deposited into a securities account will be refunded.
