According to SeeNews, Hong Kong-based Jun Yang Solar Power Investments yesterday issued a HKD 190 million (USD 24.5m/EUR 17.7m) bond. The bond was placed with at least six investors.
Because the company is a "pureplay" solar company, making thin-film PV modules and developing solar projects, we include this in our broad "bonds and climate change" universe.
The Company plans to use the proceeds to expand its solar PV power-generating business and consolidate the cooperation with Beijing Sanjili Energy Co. Ltd, a key operator in power generation, a subsidiary of State Development and Investment Corporation
The bonds are convertible into Jun Yang shares at a price of HKD 0.11 apiece, apparently a premium of 10% over the closing price of the company’s stock for the last five trading days.
This sort of convertible bond offering is quite popular among Hong Kong renewable energy companies.
