Photon Energy taps green bond to EUR 75m

Amsterdam-based solar power producer Photon Energy NV (WSE:PEN) announced today it has tapped a green bond by EUR 10 million (USD 9.7m) to a nominal value of EUR 75 million.

The green bond now has a 2027 maturity and an interest rate of 6.50% per annum, payable quarterly. It has been trading on the Open Market of the Frankfurt Stock Exchange since November 23, 2021.

Photon Energy said that the tap was met with strong demand from existing bondholders, as well as new institutional investors across Europe, despite the macroeconomic circumstances.

The company plans to use the proceeds to further finance the development and construction of solar photovoltaic (PV) power plants. Presently, it is working on projects with a combined capacity of 892 MWp in Australia, Hungary, Poland and Romania.

Bankhaus Scheich Wertpapierspezialist AG has served as sole global coordinator and bookrunner.

(EUR 1 = USD 0.974)

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