Encavis issues EUR-210m green bond
- German wind and also solar park operator Encavis AG (ETR: CAP) has effectively positioned a syndicated green promissory note bond worth EUR 210 million (USD 223.3 m) to back its ambition to add more than 500 MW of generation capacity to its portfolio this year.
The transaction was oversubscribed greater than 4 times, exceeding the at first targeted amount of EUR 50 million. The bond, called Schuldscheindarlehen in German, was placed with about 50 capitalists in three different tranches of three, 5 as well as seven years of maturation with dealt with as well as variable interest rates, a press release said on Tuesday.
The profits increased from the bond concerns together with the company's existing credit score facilities will be enough to acquire greater than 500 MW of generation capacity in 2023 without any concern of equity, Encavis' CFO Christoph Husmann kept in mind.
Bayerische Landesbank and also DZ BANK AG acted as bookrunners of the deal.
The placement of the syndicated green cosigned promissory note bond revealed on Tuesday is the first since the EUR-50-million green bound car loan elevated by the German firm in 2018.
