(SeeNews) – Jun 4, 2012 – Swiss solar power producer Edisun Power (SWF:ESUN) said on Friday it will raise the volume of a bond announced in January to CHF 11 million (USD 11.4m/EUR 9.2m) from CHF 6 million.
The issue was oversubscribed which is the reason for the board of directors decided to exercise the volume increase option, Edisun said.
The bond bears a coupon rate of 3.5% and consists of two tranches. The A series of CHF 3 million was already launched and is due on March 31, 2018. The second B tranche is now raised to CHF 9 million from CHF 3 million and will run between July 1, 2012 and June 30, 2018.
The company will use the proceeds to repay bonds in a total amount of CHF 5 million that will mature on June 30, 2012. The remaining funds will be invested in the construction of new solar power plants in Europe.
(CHF 1.0 = USD 1.035/EUR 0.833)