Argentina raises cap on renewable self-consumption to 12 MW
Sep 04, 2024 12:11 CESTArgentine power company Genneia on Wednesday is issuing two new green bonds valued at USD 20 million (EUR 18.7m), with the option to increase the total amount to USD 60 million.
The proceeds will be used to finance the construction of new renewables, including wind and solar projects, Genneia said on Tuesday.
The company will issue two classes of bonds with different interest rate structures and different maturities. One class will be a hard dollar instrument with a fixed price of 100% and a tendered interest rate. It will have a term of 36 months, with quarterly payments set to start six months after issuance.
The other bond is a dollar-linked instrument with a fixed coupon of 2% and a tendered price. It will have a term of 24 months, with interest payments made quarterly.
The tender for the notes, rated AA.ar by Moody’s Local, will take place on June 26, 2024.
Genneia raised USD 33 million through a green bond sale in March this year. Earlier this month, the company announced an investment of USD 250 million for two new large-scale solar projects in Argentina’s Mendoza province.
(USD 1.0 = EUR 0.937)
Argentina raises cap on renewable self-consumption to 12 MW
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