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    GLOBAL BIOENERGIES  684  0 Kommentare Establishment of flexible bond financing by the reserved issue of OCABSAs for an €11.25 million bond loan on condition of shareholder approval

    Global Bioenergies: Establishment of flexible bond financing by the reserved issue of OCABSAs for an €11.25 million bond loan on condition of shareholder approval

    Evry (France) and Dubai (United Arab Emirates), 23 September 2016 - Global Bioenergies (Alternext Paris: ALGBE) announced the signing yesterday of a debt issue agreement with Bracknor Investment to put in place a flexible bond financing line by issuing 300 convertible bonds (obligations convertibles en actions) with a par value of €37,500 each (the "OCAs"), breaking down into a first tranche of 20 OCAs and fourteen tranches of 20 OCAs each, that will be accompanied by share subscription warrants (bons de souscription d'actions - the "BSAs") (the OCAs and the BSAs are together referred to as the "OCABSA") for a total nominal amount of €11.25 million, combined with the suspension of the PACEO agreement, on condition of shareholder approval.

    Transaction objectives

    The objective of this transaction is to finance:

    • The development and scaling up of the isobutene procedure and procedures related to the biological production of other molecules, such as butadiene or propylene,
       
    • The diversification of carbon-based resources used in the procedure. The Company intends to adapt the procedure to second-generation resources (waste biomass) and third generation resources (industrial gas discharges, in particular CO2),
       
    • The intensification of its commercial activity, aiming for the emergence of new factory construction projects.

    François-Henri Reynaud, CFO of Global Bioenergies, explained: "This new financing will provide security to the Company for the next industrial phase of the Isobutene process, and will also make it possible to increase the liquidity of the Company's shares."

    Marc Delcourt, CEO of Global Bioenergies, declared: "This new financing will allow us to intensify our industrialisation work, increase our commercial efforts, and fully implement our programme for the diversification of resources, which will allow us to reduce production costs and further increase the environmental advantages of our procedures."

    Aboudi Gassam, Chairman and President of the Investment Committee of Bracknor and Vice-President in charge of Business Development of MS Group declared: "This transaction with Global Bioenergies renews our faith in the renewable energy and biotechnology sector. This action to support the innovative Global Bioenergies project places us alongside other major international groups and aims to take part in the efforts required by COP21."

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    GLOBAL BIOENERGIES Establishment of flexible bond financing by the reserved issue of OCABSAs for an €11.25 million bond loan on condition of shareholder approval Global Bioenergies: Establishment of flexible bond financing by the reserved issue of OCABSAs for an €11.25 million bond loan on condition of shareholder approval Evry (France) and Dubai (United Arab Emirates), 23 September 2016 - …