Photon Energy Increases 7.75% Bond 2017/2022 by 7.5 Million Euro
- The increase to EUR 37.5 million corresponds to 25% of the previous bond volume
- The new notes were placed at 102%, plus accrued interest, in a private placement exclusively with institutional investors
- The company will use the net proceeds from the bond increase to finance further acquisitions and strengthen its financial power
Amsterdam - 5 August 2018 - Photon Energy N.V. (WSE: PEN, ISIN NL-001039110-8, the 'Group') announces that it has successfully increased its 7.75% corporate bond 2017/2022 (DE-000A19MFH-4) by EUR 7.5 million to EUR 37.5 million, corresponding to 25% of the previous bond volume.
The new notes were placed at 102%, plus accrued interest, in a private placement exclusively with institutional investors. The transaction was managed by Bankhaus Scheich Wertpapierspezialist AG, Frankfurt am Main, as the Sole Global Coordinator.
The proceeds from the sale of the Suntop 1 project stake to Canadian Solar Inc. and the proceeds from the bond increase will enable the Group to pursue new market opportunities. The Group intends to use the net proceeds from the bond increase to finance further acquisitions and strengthen its financial power.
The new notes are expected to be introduced at the Open Market of the Frankfurt Stock Exchange on 9 August 2019 under the existing ISIN.
ABOUT PHOTON ENERGY
Photon Energy N.V. is a global solar energy solutions and services company covering the entire lifecycle of solar energy systems. Additionally, its subsidiary Photon Water Technology (PWT), focuses on developing and providing water purification, remediation and treatment systems for worldwide deployment. Since its foundation in 2008, Photon Energy has built and commissioned 60 MWp of solar power plants across two continents and 39.2 MWp as part of our own portfolio. Current project development includes a project pipeline of 1.2 GWp in Australia (in partnership with Canadian Solar) and 33.0 MWp in Hungary, with a target of 75 MWp by 2022. The O&M division provides operations and maintenance services for 250 MWp worldwide. Photon Energy is headquartered in Amsterdam and has offices in Europe and Australia. For more information, please visit www.photonenergy.com.
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