Encavis AG,
The bonds were issued at 114.25% of their principal amount to institutional investors in selected European countries, according to a Sept. 5 news release.
At settlement on Sept. 13, the new bonds will be consolidated with the company's original bonds, totaling €97.3 million and issued on Sept. 13, 2017. Including the €7.6 million premium, Encavis has raised an additional €60 million in free liquidity and increased its financial firepower to around €170 million.
"Encavis is thus ideally equipped for further strategic growth in the promising market of long-term private-sector power purchase agreements," Encavis CFO Christoph Husmann said.
Jefferies International Ltd. acted as sole global coordinator and sole bookrunner on the transaction.
