Greenvolt issues EUR-100m green bond

Portuguese renewables company Greenvolt - Energias Renovaveis SA (ELI:GVOLT) announced on Wednesday it closed a placement of its 2029 green bonds of EUR 100 million.

Initially, Greenvolt offered 150,000 green bonds at a EUR 500 subscription price each, with a minimum investment of EUR 2,500. Due to the registered demand, the company revised upwards the amount to be obtained to EUR 100 million from EUR 75 million.

The strong demand exceeded the green bonds available for subscription, reaching EUR 111.5 million (USD 119.4m), or 112% of the total offered.

With a gross annual interest rate of 4.65%, the bond loan was aimed at retail investors. Overall, Greenvolt's 2029 green bonds had a total number of subscribers amounting to 2,914, the firm noted.

(EUR 1.0 = USD 1.071)

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