Germany's PNE Wind AG has closed a €100m ($134m) 8% corporate bond with a final private placement with institutional investors of €33.7m.
PNE Wind will use the proceeds to expand its activities in offshore wind farm projects and to strengthen its portfolio of national and international onshore projects, especially the 189MW of wind farms they have under development in Germany.
The bonds will be included with the existing corporate bond issue in the Regulated Market of the Frankfurt stock exchange in two days time. Sole bookrunner was Close Brothers Seydler Bank AG. Coupon is 8%.
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Reminder: I'm presenting our 'Bonds & Climate Change" report, with further comments on how to grow the climate and green bonds market, in Boston, Toronto and New York next week. Mike Eckhart @Citi, Suzanne Buchta @BoAML and Curtis Ravenel @Bloomberg will also speak in NYC; Mahesh Jayakumar @SSgA, Cheryl Smith @Trillium and Sean Flannery @Meister will speak in Boston.
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Justine Leigh-Bell has just started as the new Climate Bonds Standard program coordinator, an assurance project for investors. Padraig Oliver, who previously managed this area along with other projects, has changed role to work on special projects.
