PNE wins 24 MW of onshore wind projects in German auction
Sep 19, 2024 8:35 CESTGerman renewables developer ABO Wind AG (ETR:AB9) will boost its recently launched EUR-50-million (USD-53.7m) green bond offering by an additional EUR 15 million after securing strong investor interest.
The transaction was “significantly oversubscribed,” receiving considerable interest from institutional investors, asset managers and private investors, the German firm said in a filing on Thursday.
The 2024/2029 bond has an annual interest rate of 7.75%, to be paid semi-annually in arrears on 8 May and 8 November of each year. The first distribution is scheduled for November 8, 2024.
Set to mature on May 8, 2029, the five-year securities are marketed publicly in Germany, Luxembourg, and Austria. They will be listed for trading in the Quotation Board segment of the Frankfurt Stock Exchange, with dealings set to begin on May 8.
“We can now use the funds to drive forward our growth strategy and make an increasing contribution to the energy transition and climate protection,” said CFO Alexander Reinicke.
As previously announced, ABO Wind will use the net proceeds, estimated at EUR 62.5 million, to finance the development and construction of grid-connected renewable energy and storage capacity. At present, the company has some 23 GW of projects under development.
(EUR 1.0 = USD 1.074)
PNE wins 24 MW of onshore wind projects in German auction
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