Atlantis bond draws over GBP 3m of investor commitments ahead of close

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.

(GBP 1.0 = USD 1.408/EUR 1.143)

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