Edisun Power to repay bond ahead of schedule, issue new one
Oct 25, 2013 - Swiss solar electricity producer Edisun Power Europe AG said on Wednesday it will repay its CHF 8.97 million (EUR 7.29m/USD 10.07m) bond before the maturing date and announced the issue of a new bond at the volume of CHF 5 million.
The company sold several small photovoltaic (PV) installations in Switzerland in mid-August as part of a reorganisation of its business and thus had the capital to repay its debt earlier than scheduled.
The 4.25% bond with maturity date of August 31, 2014 will be repaid by the end of January 2014. Information about the issue of the new bond with a 10-year maturity period will be disclosed in December, the company said.
The new bond issue will enable Edisun to reduce its interest costs while improving the compatibility between the maturing period of the debt and the initial investment, according to Edisun.