GreenVolt places €150M in green bonds – demand hits 126%
The Portuguese company has raised €150 million in funding after placing a green bond issue.
GreenVolt announced on Wednesday that it had raised €150 million in funding after placing a green bond issue that registered 126% demand, according to a statement.
“GreenVolt has successfully completed the placement of a bond loan aimed at retail investors,” it highlighted, adding “that the GreenVolt Green Bonds 2027 issue registered strong demand, outperforming the bonds available for subscription, amounting to 126% of the total bonds on offer, after the upward revision of the amount to be issued.”
“Initially, 200,000 GreenVolt 2027 Green Bonds were made available, with a subscription price of €500 each with a minimum investment of €2,500,” he recalled, pointing out that “in the course of the term, in light of the demand recorded, GreenVolt revised upwards the amount to be obtained with this financing operation from €100 to €150 million.”
According to GreenVolt, “during the term of the offer, which ran from November 2, 2022 to November 15, 2022, inclusive, an aggregate demand of €188.5 million was recorded,” it noted.
“In what was the first primary market issue aimed at small savers, Greenvolt was supported by a large number of investors,” according to the statement, which highlighted that “the total number of subscribers to the GreenVolt Green Bonds 2027 amounted to 4,885”.
“The GreenVolt Green Bonds 2027 offer a gross annual interest rate of 5.20%, with interest payments to be made every six months after the settlement date of the offer, on November 18, 2022, the day on which they will be admitted to trading on Euronext Lisbon,” it indicated.
According to GreenVolt, “interest will be credited to investors’ accounts on May 18 and November 18, every year until maturity, in November 2027.
The company also stressed that with this issue, it “obtained the funds that will allow it to accelerate its growth in a sustained manner. Based on the production of energy from biomass, the Group is expanding in the renewable energy business”.
