Terms and conditions
|Issuer||Photon Energy N.V.|
|Planned issue volume||Up to EUR 30 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||Bankhaus Neelmeyer AG*|
** 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.
|Term / Redemption||Five years: 26. 10. 2022 / 27. 10. 2022 at par|
|Use of proceeds||Refinancing of outstanding bonds (ISIN DE000A1HELE2).
Remaining proceeds will be invested with focus on Australia and Hungary.
* Since 19 February 2018 changed to Bankhaus Neelmeyer AG from Dero Bank AG on which BaFin ordered a moratorium on 8 February 2018.
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 (currently 2 projects totalling 47.6 MWp)
- Financing of first projects in Hungary (currently project pipeline 20.6 MWp, fast growing)