German SAG Solarstrom extends further subscription for EUR 25m bond
Aug 1, 2011 - German solar power plant specialist SAG Solarstrom (ETR:SAG) is extending further the subscription period for its EUR 25 million (USD 36m) corporate bond and will announce its termination in an ad-hoc statement, the company said during the weekend.
The subscription period was already extended once and was set to expire on July 29.
The bond has a fixed interest rate of 7.5% and a maturity of six years.
The proceeds from the issue will be used for cutting financing costs and expanding the company's power plant portfolio, SAG Solarstrom said.