Grenergy sets up the first Green Bond programme in MARF for a maximum amount of up to €50 million. This new Green Bond programme will allow Grenergy Renovables to issue bonds with denomination of €100,000 and up to a maximum amount of €50 million. The bonds will have either fixed or variables coupons, flexible structures and maturities up to 7 years. The company was granted a rating of BB+, stable outlook by Axesor.

Bonds issued under this programme will be labelled as green instruments according to ICMA’s Green Bond Principles (International Capital Markets Association). This distinction eases the access to investors with ESG management criteria.

Grenergy is a renewable energy producer, specialized in the development, construction and management of both photovoltaic and wind energy projects. The company has an international presence as it operates in Spain, Chile, Peru, Colombia, Mexico and Argentina.

The bond programme allows the company to diversify its long-term funding sources and completes the financing for its growth plan through the expansion of its photovoltaic and wind farms. The company aims to become an independent power producer by 2022.

As of 2018 Grenergy had €55.4 million of total revenues and an EBITDA of 22 million. Since 2015 the company trades in MAB, BME’s Alternative Equity Market.

Source: see the entire post