Photon Energy places EUR-50m green bond, EBRD invests

Source: Photon Energy Australia (www.photonenergy.com.au).

November 18 (Renewables Now) - Amsterdam-based solar developer and clean water solutions provider Photon Energy NV (WSE:PEN) said that it has successfully placed its EUR-50-million (USD 56.6m) green bond in an oversubscribed offering that attracted new investors, among them the European Bank for Reconstruction and Development (EBRD).

The green bond matures in 2027 and bears a 6.50% coupon paid quarterly.

Investors in Photon Energy’s existing 7.75% EUR Bond 2017/2022 were invited to exchange their bonds for the new green notes. These bondholders subscribed to roughly EUR 21.3 million, which reduced the outstanding amount of the 2017/2022 bond to EUR 23.7 million, Photon Energy said.

Photon will use the proceeds to finance or refinance new and/or existing eligible assets. The company has built and commissioned over 110 MWp of solar farms since it was founded in 2008. Its proprietary portfolio stands at 89.3 MWp.

(EUR 1.0 = USD 1.133)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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