SIMEC Atlantis nabs GBP 3.8m from bond offer

The Uskmouth power station in Wales. Author: Reading Tom. License: Attribution 2.0 Generic (CC BY 2.0)

February 5 (Renewables Now) - SIMEC Atlantis Energy Ltd (LON:SAE) said today it has raised GBP 3.79 million (USD 4.95m/EUR 4.49m) through the bond offer announced in August 2019.

The company offered the five-year bond with a coupon of 8% on Abundance Investment’s regulated green peer-to-peer investment platform. The financial instrument matures in 2024.

When announcing the offering last year, SIMEC Atlantis said it was hoping to raise up to GBP 7 million.

"We are pleased by the response to this bond issuance. The proceeds will be deployed to further the successful delivery of our world leading portfolio of renewable and sustainable energy projects, such as the Uskmouth power station conversion in Wales which is entering a particularly exciting phase of development this year,” said CEO Tim Cornelius.

SIMEC Atlantis is also the company behind the 398-MW MeyGen tidal stream project in Scotland.

(GBP 1.0 = USD 1.307/EUR 1.185)

More stories to explore
Share this story
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