Etrion redeems EUR 40m of corporate bonds due in 2019
Aomori solar park in Japan. Source: Etrion (www.etrion.com).
Solar power producer Etrion Corp (TSE:ETX) said today it has concluded the redemption of its EUR 40 million (USD 46.5m) of corporate bonds issued in 2014.
The bonds were issued in 2014, paid an annual interest of 8.0% and were due in April 2019. They were redeemed at 101% of par plus accrued interest using a portion of the proceeds Etrion raised just recently through a EUR-40-million bond sale in the Nordic markets.
Etrion said it has listed the new bonds on the Frankfurt Stock Exchange Open Market and also plans a listing on the Oslo Stock Exchange within six months from the issue date. These bonds have an annual interest rate of 7.25% and mature in May 2021.
The company owns and operates 56.7 MW of solar capacity, all in Japan.