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Neoen launches offering of €200M convertible senior bonds

Neoen SA on Oct. 2 launched an offering of senior unsecured bonds due Oct. 7, 2024, in a maximum amount of €200 million. The bonds are convertible into new shares and exchangeable for existing shares of the company, according to a news release.

The French renewable energy company said it will use the net proceeds for general corporate purposes, including funding growth toward a 2021 target of more than 5,000 MW of capacity under construction or in operation.

Interest on the bonds will be paid semiannually Oct. 7 and April 7 of each year, beginning April 7, 2020.