TerniEnergia to issue up to EUR 25m bond to fund green business

Jan 28, 2014 - Italy’s TerniEnergia (BIT:TER), operating in renewable energy, energy efficiency and waste management, said on Monday its board of directors approved a five-year bond issue for as much as EUR 25 million (USD 34.2m) in order to raise funds to develop its renewable operations.

TerniEnergia will issue the notes at a fixed interest rate of 6.875% by February 2014.

The issue aims to optimise the company’s structure so as to support its business plan named “Discover the new green era 2014-2016″. The bonds will be listed on the ExtraMOT PRO professional segment of the EXTRAMOT bond market managed by Borsa Italiana.

The bonds will be issued and placed by JCI Capital Limited Investment & Asset Management acting as sole lead manager, at a subscription price equal to 100 % of nominal value, net of a discount rate of 0.50%, a statement read.

The notes will mature at end-February 2019.

TerniEnergia will list for the first time bonds on the ExtraMOT PRO market, thus strengthening its visibility on the capital markets and demonstrating its ability to carry out business in a structured way, CEO and chairman Stefano Neri said. The company continues with its strategy of integration of the financial structure, launched with the investment fund “RA – Renewable Assets“, with the goal to create optimal conditions for the full development of the business plan “Discover the new green era 2014-2016“, the manager commented.

(EUR 1 = USD 1.368)

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