SOLARIA ENERGIA Y MEDIO AMBIENTE, S.A. (Hereinafter, “SOLARIA”) announces the placement of the “Senior Secured Notes Solaria Casiopea December 2017” project bond to funds managed by Rivage Investment SAS.
Rated Investment Grade (BBB- with stable outlook), the Project Bond was issued and placed with a nominal value of nine million two hundred thousand euros (€ 9,200,000), a coupon set at 4.15% payable monthly and a 22 year and 9 months maximum lifespan.
The issue will trade on the Mercado Alternativo de Renta Fija (MARF) / Spanish Alternative Bond Market.
The proceeds from this bond issue will be used by SOLARIA to pursue its business model focused on increasing investment into renewable energy generation.
The successful placement of this fourth project bond (after the placement on July 24, 2017 of the “Senior Secured Notes Magacela Solar 1” project bond with a coupon of 3.769%) confirms that the market is approving the new strategic plan based on the optimization of the financing conditions of its currently owned generation assets combined with the development and / or acquisition of new photovoltaic projects in countries offering attractive risk-adjusted returns on investment.
SOLARIA is currently analyzing possible investments and / or investing in countries of the European Union and Latin America.