Photon Energy N.V. Announces the Group's Management Board Decided to Increase its Existing 7.75% Bond 2017/2022 (De-000A19mfh-4) by Up to EUR 5 Million to a Total of EUR 45 Million
June 29, 2020 at 10:34 am
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Photon Energy N.V. announced that the Group's management board has decided to increase its existing 7.75% bond 2017/2022 (DE-000A19MFH-4) by up to EUR 5 million to a total of EUR 45 million. Additional notes issued under the 7.75% bond 2017/2022 (DE-000A19MFH-4) will be offered by Bankhaus Scheich Wertpapierspezialist AG, Frankfurt am Main, in a private placement to qualified investors in the Federal Republic of Germany and other countries, except for the United States of America, Canada, Australia and Japan. As part of the increase, all existing bond terms remain unchanged. The bond, scheduled to mature in October 2022, bears interest at 7.75% a year and pays interest on a quarterly basis. The Group intends to use the net proceeds from the bond increase to finance the construction of power plants in Hungary and Australia for its own PV-portfolio as well as to strengthen its financial standing. The transaction will be managed by Bankhaus Scheich Wertpapierspezialist AG, Frankfurt am Main, as the sole global coordinator.
Photon Energy N.V. is specialized in the development, construction and operation of photovoltaic power plants. In addition, the group offers water-related services. The turnover (before elimination of intragroup revenue) is divided across the following activities:
- ownership and management of photovoltaic power plants (53.4%): at the end of 2021, 87 photovoltaic power plants owned with an installed capacity of 90.5 MWp;
- trading in photovoltaic system components (22.9%);
- engineering, development and construction of turnkey photovoltaic systems (15.3%);
- technical management, maintenance and control of facilities (7.1%): management of photovoltaic power plants with an installed capacity of 309 MWp;
- other (1.3%): development of solar projects and water treatment services, remediation of contaminated land, management of wells and other water resources, etc.
The geographical breakdown of the turnover is as follows: Czech Republic (60.4%), Hungary (19.7%), Australia (16.4%), Slovakia (2.5%) and other (1%).
Photon Energy N.V. Announces the Group's Management Board Decided to Increase its Existing 7.75% Bond 2017/2022 (De-000A19mfh-4) by Up to EUR 5 Million to a Total of EUR 45 Million