German wind developer PNE Wind plans to place a €50m corporate bond to help develop its European 2020 wind farm portfolio and to contribute to the overall growth of the company.
The bond, with an interest margin set at 4%-4.75% and to trade on the OTC market of the Frankfurt Stock Exchange, will run over a five-year term to 2 May 2023.
IKB Deutsche Industriebank and MM Warburg & Co are acting as joint lead managers for the transaction.
PNE Wind chief executive Markus Lesser said: “We are in the process of establishing a new European wind farm portfolio with around 200MW by 2020.
“We are also expanding our business model and developing into a clean energy solution provider.
“With this new orientation, we will in future also position ourselves in photovoltaics, storage technologies and power-to-gas in addition to wind power. We intend to secure the financial resources for the implementation of these strategic measures at an early stage.”
Image: PNE Wind
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By EBS