March 29 (Renewables Now) - Photon Energy NV (WSE:PEN) has increased its 2021/2027 green bond to a total amount of EUR 80 million (USD 86.7m), the Amsterdam-based solar power producer said on Tuesday.
An additional nominal amount of EUR 2.5 million was sold in a private placement among institutional investors in the UK, Switzerland, Germany, and Austria.
The specific bond 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 plans to use the proceeds to further finance the development and construction of solar photovoltaic (PV) power plants and refinance some assets. Presently, the company is working to develop projects with a combined capacity of 931 MWp in Australia, Hungary, Poland and Romania, it said.
Bankhaus Scheich Wertpapierspezialist AG, Frankfurt am Main, acted as sole global coordinator and bookrunner of the bond offering. In October last year, Photon Energy tapped the 2021/2027 bond issue by EUR 10 million to a nominal value of EUR 75 million.
(EUR 1.0 = USD 1.084)