Business World of Renewable Energy

Nordex Turkey 14042016 1280 256

Deal: NEAG places second tranche of a bearer bond

Frankfurt, Germany - The IPP company NEAG Norddeutsche Energie AG has placed the second tranche of the bearer bond issued in May 2019 with a volume of 25.5 million euro.

The shares were subscribed by the same German pension fund, which also subscribed the first tranche of 11.3 million euro. Thus, NEAG or the subsidiary NEAG Norddeutsche Energie Invest 3 GmbH acting as the issuer, draws the full volume of the bond at 36.8 million euro.

With the closing of the transaction, NEAG secures the financial scope to accelerate its ambitious growth targets and moves one step closer to its goal of doubling assets under management over the next two years. With a portfolio of around 300 MW, NEAG is already one of the largest independent power producers (IPP) in Germany.

In structuring, NEAG was accompanied by Frankfurt-based Financial Advisor Capcora.

Source: IWR Online, 09 Aug 2019