ABO Wind is to issue a convertible bond that aims to raise €15m to finance international growth of its solar business.
The issuance consists of one million bonds available at €15 per unit and providing 3% interest, ABO said.
Shareholders in the company have already signed up for 15% of the bonds, the developer said.
The bonds, which will be issued on 1 May, can be converted to ABO Wind shares at a ratio of 1:1 but only in October this year and next, the company added.
ABO Wind executive Alden Lee said: “We both develop greenfield projects and acquire project rights in order to implement projects. To this end, we are looking for partners.”
The company has currently acquired solar farms with a combined capacity of 250MW.
It is working on plants in Hungary and South Africa and also aims to acquire solar farms in Argentina and Spain.
Image: Pixabay
ABO bond targets €15m
By EBS