Swiss Edisun Power to issue CHF 10m bonds

(ADPnews) - Nov 5, 2010 - Swiss solar electricity producer Edisun Power Europe AG (SWF:ESUN) on Wednesday said it will issue a CHF-10-million (USD 10.2m/EUR 7.3m) bond in two tranches to raise funds for solar power projects.

The first tranche, maturing on December 30, 2016, will bear a coupon of 3.75%. It will be offered mainly to individuals and companies, which have already invested in Edisun Power, the firm said.

The second tranche, maturing on January 31, 2017, will carry a coupon of 3.5%. It will be open to new investors.

The proceeds from the bond will be used for financing a new 850-kilowatt solar installation on the roof of a building of Swiss food wholesaler Pistor Holding in Rothenburg and for the construction and financing of other solar power facilities in Switzerland, the company added.

(CHF 1.0 = USD 1.023/EUR 0.73)

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