Global solar power solutions providerPhoton Energy NV has today started the public offering of a 6%corporate bond in the Czech Republic. The nominal value is 30,000CZK, the maximum volume is 1.050 Mio. CZK. With a monthly couponthe bond represents an innovative investment opportunity for retailinvestors in the Czech Republic. The bond will also be publiclytraded after the placement, giving investors the possibility ofdaily liquidity. The proceeds from the issue are intended to beused to build solar power plants in Australia.
The Czech National Bank approved the bondprospectus on 23 November 2016. During the public offering,investors in the Czech Republic can subscribe to the bond directlythrough the issuer. The nominal value of the bond was set at 30,000CZK to make the bond more widely accessible. The bonds are intendedto be traded on the Prague Stock Exchange and the RM system, givinginvestors the added bonus of daily liquidity. The term of the bondis 7 years.
„After detailed analysis of the Czechbond market we believe that we are offering an innovativeinvestment vehicle with an attractive coupon, monthly payment anddaily liquidity. We want to use the proceeds from the issue toexpand our portfolio of power plants in Australia, where we havebeen active since 2011 and where solar energy today is competitivewithout the need for state subsidies. By adding large-scale powerplants in Australia to our portfolio, we will be able to even outseasonal dips in energy production from our currentportfolio”, commented CEO Georg Hotar.
In 2013 Photon Energy issued a 5-year bondin EUR in Germany, which is being traded in Frankfurt and Vienna.Thanks to its quarterly coupon payment, a history of 14 paidcoupons and improving financials, the bond is currently tradedabove its nominal value.
Financially, Photon Energy in 2015 recordedits best result for the last five years. Revenues grew from 11.76Mio. EUR in 2014 to 13.321 Mio. EUR. This resulted in an EBITgrowth of 75,8% to 6.145 Mio. EUR and a swing from a negative EBITof -0.924 Mio. EUR to a positive 1.113 Mio. EUR. This growth alsoprojected into a reduction of the loss after taxation from -5.034Mio. EUR in 2014 to -1.720 Mio. EUR in 2015. The 2016half-year-figures show this positive trend continuing.
“With this placement we are offeringCZK-investors an attractive longer term investment, for which thereis certainly demand in the Czech Republic, not least because of thepolicy of the Czech National Bank”, Hotar added.
The bond can be subscribed to directlythrough the issuer by filling out an online form at http://bond16.photonenergy.comor through security brokers.
MEDIA CONTACT
Jan Krcmar
T +420 773 032 182
E jan.krcmar@photonenergy.com
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