DGAP-News

Photon Energy Group Increases Green Bond to EUR 55 Million with the EBRD - Seite 2

The Company decided to increase the initial EUR 50 million nominal value of the Bond to EUR 55 million as a result of the overwhelming success of its exchange offer, which was oversubscribed by over EUR 5 million, as well as the strong interest of numerous private and institutional investors across Europe, which could only be satisfied by significantly reducing the allocation to EBRD in the placement of the bond.

'We were pleased and surprised by the overwhelming acceptance of the exchange offer, which exceeded our expectations by more than EUR 5 million and clearly demonstrated the solid confidence of our long term investors in our business model. Due to this higher acceptance ratio we could place only fewer bonds for the additional funding of new projects, for which we had additional strong interest from numerous private and institutional investors across Europe, which we could only satisfy by significantly reducing the allocation to the EBRD,' said Clemens Wohlmuth, CFO of Photon Energy Group. He continued: 'This second step of a bond increase will allow us to secure additional funding for new projects and allocate additional bonds to the EBRD as a long term investor,' he added.

The Bond - with a nominal value of EUR 55 million, a maturity in 2027 and an interest rate of 6.50% p.a., paid quarterly - was confirmed by imug | rating with regard to its sustainability in a Second Party Opinion and started trading on the Open Market of the Frankfurt Stock Exchange on 23 November 2021.

Bankhaus Scheich Wertpapierspezialist AG, Frankfurt am Main, acted as Sole Global Coordinator and Bookrunner of the bond placement. Multinational law firm Pinsent Masons acted as legal advisor on the transaction.

The Company intends to use the net proceeds of the Bond placement to finance or refinance, in part or in whole, new and/or existing eligible assets, as well as financial instruments that were used to finance such projects or assets, in accordance with the Green Finance Framework, enabling Photon Energy Group to make a significant contribution to an environmentally friendly future.

Learn more about Photon Energy Group's Green EUR Bond 2021/27 here.

About Photon Energy Group - photonenergy.com