Renewables developer ABO Wind preps to issue EUR-50m green bond

German renewables developer ABO Wind AG (ETR:AB9) is getting ready to issue a five-year green bond with a target volume of up to EUR 50 million (USD 53.4m) to raise the money needed to connect more wind, solar and storage projects to the grid.

Investors in Germany, Luxembourg and Austria will have the opportunity to subscribe to the bond from April 12 till May 2, 2024, unless the offer period is extended or shortened. The bond has an interest rate in a nominal range of 7.00% - 8.00% p.a. and matures on May 8, 2029. The final interest rate of the bond is to be determined in a book building process post offer.

ABO Wind intends to use the net proceeds, estimated at up to EUR 48 million, to finance current and future renewable energy and storage projects. At present, the company has some 23 GW of projects under development.

“Following the successful issue of a bond in 2021 that is maturing in 2030, we are now issuing a green bond for the first time in order to continue to grow and make the most of the opportunities offered by the current favourable regulatory environment in many of our markets,” said Alexander Reinicke, Managing Director Finance.

B. Metzler seel. Sohn & Co. AG serves as Sole Global Coordinator and together with M.M. Warburg as Joint Bookrunner in the private placement.

(EUR 1.0 = USD 1.074)

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