Terms and conditions
Issuer | Photon Energy N.V. |
Outstanding volume | EUR 43.5 Mio. |
Coupon | 7.75% p.a., quarterly payment |
Initial offering | 27. 10. 2017 |
Placement / Segment | Public offer in Germany, Austria and Luxembourg Private placement in other EU countries Secondary market: traded on Open Market of the Frankfurt Stock Exchange since 27. 10. 2017 |
Paying Agent | Quirin Privatbank AG / Bankhaus Neelmeyer* |
Covenants |
** Subject to current legal framework requirements. The sum of interest-bearing debt capital and equity capital are used as total capital to determine the Equity ratio. |
Denomination | EUR 1,000 |
Term / Redemption | Five years: 26. 10. 2022 / 27. 10. 2022 at par |
ISIN | DE 000A19MFH4 |
Use of proceeds | Refinancing of outstanding bonds (ISIN DE000A1HELE2). Remaining proceeds will be invested with focus on Australia and Hungary. |
* As of 1 September 2018 Quirin Privatbank AG has taken over the function of paying agent from Bankhaus Neelmeyer AG.
Reasons for issuing
- Offer to EU investors as new or follow-up investments
- Flexibility and financing power for entering new markets:
- Expanding proprietary portfolio of power plants
- Securing country-specific subsidies in time
Use of proceeds
- Refinancing of outstanding bond 2013/2018 (ISIN DE000A1HELE2) ☑
- Remaining proceeds of the issue will be invested with focus on Australia and Hungary:
- Large-scale projects in Australia under development for own proprietary portfolio
- Financing of first projects in Hungary