Atlantis bond draws over GBP 3m of investor commitments ahead of close
The AR1500 tidal energy turbine. Source: Lockheed Martin
Investor commitments as part of Atlantis Resources’ (LON:ARL) five-year bond offering on the platform operated by Abundance Investment Ltd now exceed GBP 3 million (USD 4.2m/EUR 3.4m), the tidal power company announced today.
Atlantis launched the bond offering in late January on Abundance’s regulated green peer-to-peer investment platform, targeting proceeds of up to GBP 5 million. The minimum threshold was set at GBP 2 million and is now exceeded, the tidal power firm said in a brief statement.
The offer has been extended and will remain open until April 30, 2018.
The bond has a coupon of 8%, payable semi-annually, and matures in 2023. It has the same terms as those of the GBP-5-million, 8% bonds due 2022 issued via the Abundance platform in July 2017.