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Polenergia SAPolenergia renewables floats PLN 750 mln green bonds on Catalyst market
Listed renewables group Polenergia has floated PLN 750 million (EUR 179.8 mln) green bonds on Catalyst market. The group would like to make another bond issue in the future, the company's CEO Adam Purwin announced at a meeting held to mark the bonds debut.
"We have finally closed this issue at the level of PLN 750 million on the terms we wished for when going out to the market," Purwin said.
In October last year, Polenergia issued green bonds for the first time in its history. As a result of significant investor interest, the group increased the amount of the issue from PLN 500 million (EUR 119.85 mln) to PLN 750 million (EUR 179.8 mln).
The bonds went to a total of 57 investors, including sub-funds. Their interest rate is variable and equal to WIBOR 6M, plus 2.7 percentage points. The planned redemption date is October 16, 2029.
Polenergia's CEO also expressed a desire for further bond issues.
"I would like this not to be the first and last issue. We want (...) to show the company's potential in this market," Adam Purwin said.
The main purpose of the bond issue was to raise funds to finance the offshore projects Baltyk 2 and Baltyk 3, with a total capacity of 1.44 GW, being developed jointly with Norway's Equinor.
Energy from both offshore wind farms is expected to power more than 2 million households in Poland, with first electricity expected to flow in 2027 and the commercial phase of operation starting in 2028.
hel/ ao/