Two new corporate climate-related bonds were issued this week.
The first, by Hong Kong-listed polysilicon producer Gold Poly, was a $50m convertible bond to finance the solar business of its project acquisition subsidiary China Solar Power Group. The bond is a 3 year bond with a 5% coupon.
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.
FinanceAsia reports that China's state-owned Longyung Power, the country's biggest producer of wind power, has issued a 3 year, $300m bond, with a yield of 3.43%. The bond was under-subscribed; they had targeted $350m.
Canadian ratings agency DBRS announced on Thursday that it had just rated as BBB a bond to be released by Canada's Brookfield Renewable Energy. The 17 year, C$454m, wind bond will allow Brookfield to re-finance its 165.6 MW Comber wind project. The project was completed in November 2011.
