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Greencells GmbH issues secured Green Bond in the volume of up to EUR 25 million with 6.5% interest coupon and a term of 5 years

  • One of the leading EPC companies in the European solar market with an installed

    capacity of over 2.1 GWp

  • Dynamic growth on existing basis to be accelerated further by the issue of a secured corporate bond
  • Risk-averse use of funds in late-stage project development
  • Secured project pipeline comprises 1.8 GWp with a focus on Europe and expected

    sales of over EUR 850 million until 2024

  • Securities exist in the form of pledged shares in solar project companies with a net

    security value of EUR 34.5 million confirmed by an expert opinion and assigned receivables from EPC contracts for solar projects of at least EUR 10 million

    Saarbrücken, 13 November 2020 – Greencells GmbH, a globally active engineering, procurement and construction (EPC) and O&M service provider for utility-scale solar power plants, issues a secured bond (ISIN: DE000A289YQ5) with a volume of up to EUR 25 million and a coupon of 6.5% p.a. over a term of five years. The security qualifies as a Green Bond as the sustainability rating agency, imug, confirms that the Green Bond of Greencells GmbH complies with the International Capital Market Association’s Green Bond Principles (GBP). Interested investors can subscribe for the Greencells Green Bond within a public offering in Germany, Austria and Luxembourg from 16 November 2020 to 7 December 2020 (12:00 CET) via the subscription functionality “DirectPlace” of the Frankfurt Stock Exchange in the XETRA trading system. At the same time, ICF Bank AG as the bookrunner, will execute a private placement to qualified investors in Germany and selected other European countries. DICAMA AG is acting as the financial advisor.

    Greencells GmbH as an EPC company (Engineering, Procurement and Construction) has established a strong worldwide track record in the solar market of 2.1 GWp installed capacity since 2009. Greencells is bankable and preferred partner of large, long-term investors. Since the investment of an international equity investor and the foundation of the sister company Greencells Group Holdings in 2018 for project development, the Group is able to offer services along the entire value chain from development, financing and realization through to operational management of solar power plants. Greencells GmbH as the issuer of the Green Bond benefits significantly from this integrated business model of the Group, as all development projects of its sister company carry with them fixed EPC and O&M contracts. This ensures stable and visible cash flows for Greencells GmbH, in addition to the long-established EPC and O&M business for external clients.

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