Meyer Burger raises almost EUR 220m from share, bond placements

Gena96/Shutterstock.com

July 1 (Renewables Now) - Meyer Burger Technology AG (SWX:MBTN) announced today it has successfully raised close to EUR 220 million (USD 260.6m) through the placement of shares and green bonds.

Specifically, the solar panel manufacturing newcomer has completed a CHF-80-million (USD 86.3m/EUR 72.9m) private placement of 155.34 million newly issued registered shares at CHF 0.515 apiece, the proceeds of which will be spent on new investments.

Also, the company’s German unit MBT Systems GmbH has placed EUR 145 million worth of green senior unsecured guaranteed convertible bonds due in 2027. The bonds will carry a coupon of 3.5%, with an initial range of 2.75%-3.5% per year, that is payable semi-annually in arrears. They will initially be convertible into about 247 million Meyer Burger registered shares at an initial conversion price of EUR 0.5868 apiece.

(CHF 1.0 = USD 1.079/EUR 0.911)

(EUR 1.0 = USD 1.184)

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription
\