On 7 September 2018 Photon Energy N. V. fully placed its 7.75 %corporate bond 2017/22 with a total volume of EUR 30million. The net issue proceeds will flow into theconstruction of major utility-scale projects in Australia andHungary for the company’s own portfolio. Investors can stillpurchase the bond at the open market of the Frankfurt StockExchange and other stock exchanges in Germany.
Photon Energy N.V. (WSE: PEN, NL0010391108, the “Group”)announces that it has successfully completed its five-year 7.75 %corporate bond (ISIN: DE 000A19MFH4) placement. The target volumeof EUR 30 million was subscribed to in full before the end of thepublic placement that took place in Germany, Austria andLuxembourg, originally set until 20 September 2018.
In October 2017, Photon Energy launched a public offer for itssecond EUR-denominated 5-year corporate bond (with a coupon rate of7.75 % and quarterly payments) together with an exchange offer forthe holders of its first 8 % EUR-bond due and successfully repaidon 12 March 2018. The Group intends to use the remaining net issueproceeds for the construction of utility-scale PV power plants forits proprietary portfolio in Australia as well as in Hungary.Bankhaus Scheich Wertpapierspezialist AG accompanied the privateplacement of the bond issue as Selling Agent.
“We can now take advantage of our project development efforts toaccelerate the Group’s growth and are excited about the potentialof our business in our target markets Australia and Hungary. Bothmarkets will allow us to expand our power plant portfolio and tosubstantially grow our electricity generation as well as operationsand maintenance services businesses. We are looking forward to theopportunities that the coming quarters will bring and would like tothank our bond investors for the trust they placed in us,” commentsGeorg Hotar, CEO Photon Energy.
Based on the Group's improved financial results, itssuccessful track record as a bond issuer including the repayment ofthe company’s first 8 % corporate bond, as well as on a stabletrading price and good trading liquidity, the Photon Energy bondoffers an attractive risk-return profile.
Investors can purchase the bond 2017/22 further on directly onthe Open Market of the Frankfurt Stock Exchange where it has beentrading since 27 October 2017. The bond is also traded on the stockexchanges in Berlin, Hamburg, Hannover, Munich andStuttgart.
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MEDIACONTACT
Martin Kysly
T +420 774 810 670
E martin.kysly@photonenergy.com
