Güglingen, 6 October 2023 – hep solar projects GmbH, a wholly owned subsidiary of the Baden-Württemberg-based specialist for solar parks and solar investments hep global GmbH, has decided to issue a corporate bond (ISIN: DE000A351488) with a total volume of up to EUR 30 million. The security, which is qualified as Green Bond by imug rating in accordance with the Green Bond Principles 2021 of the International Capital Market Association, carries an interest rate of 8% p.a. over its five-year term.
Interested investors can subscribe to the hep Green Bond 2023/2028 as part of the public offering in Germany, Austria and Luxembourg from 6 October 2023 via the issuer’s website at www.hep.global/en/green-bond-2023 and via selected sales partners. The issue is managed by Lewisfield Deutschland GmbH as Financial Advisor.
The focus of the use of funds is the financing of the development of photovoltaic projects by the hep global group in the European region, in the United States, in Canada and in Japan. Specific measures include the acquisition of projects and project rights, services in the various phases of project development, down payments of components for solar parks, and securities for grid connections or power purchase agreements. Financing is provided through loans, which the issuer grants exclusively within the hep global Group. The term is usually up to approx. 3 years and the interest rate is always more than 8% p.a.
The securities prospectus approved by the Commission de Surveillance du Secteur Financier (“CSSF”) in Luxembourg and notified to the Federal Financial Supervisory Authority (“BaFin”) in Germany and the Austrian Financial Market Authority (“FMA”) is available on the website of hep solar projects GmbH (www.hep.global/en/green-bond-2023).
The hep Green Bond 2023/2028 is expected to be included in trading on the Open Market of Deutsche Börse AG (“Freiverkehr” of the Frankfurt Stock Exchange) on 29 March 2024.
Key data of the hep Green Bond 2023/2028
|Issuer||hep solar projects GmbH|
|Financial instrument||Green Bond (classified by imug/SPO)|
|Issue volume||Up to EUR 30 million|
|Coupon||8 % p.a.|
|Issue price||100 %|
|Offer period||6 October 2023 to 2 October 2024|
|Value date||22 November 2023|
|Term||5 years: 22 November 2023 to 22 November 2028 (exclusive)|
|Interest payment||Semi-annually, in arrears on 22 May and 22 November of each year (for the first time in 2024)|
|Redemption date||22 November 2028|
|Redemption price||100 %|
|Special termination rights of the Issuer||• From 23 November 2026 at 102% of the nominal amount • From 23 November 2027 at 101% of the nominal amount|
|Termination rights of bondholders and covenants||• Change of control • Negative pledge • Cross default • Transparency obligation|
|Applicable law||German law|
|Prospectus||Securities prospectus approved by the Commission de Surveillance du Secteur (“CSSF”) in Luxembourg with notification to the Federal Financial Supervisory Authority (“BaFin”) in Germany and the Austrian Financial Market Authority (“FMA”) • The approval of the prospectus shall not be construed as an endorsement of the securities offered.|
|Stock exchange segment||From 29 March 2024: Open Market of Deutsche Börse AG („Freiverkehr“ of Frankfurt Stock Exchange)|
|Financial Advisor||Lewisfield Deutschland GmbH|
This publication is neither an offer to sell nor a solicitation of an offer to buy securities. The securities which are the subject of this publication are offered by the issuer exclusively in the Federal Republic of Germany, the Grand Duchy of Luxembourg and the Republic of Austria by way of a public offer. Outside the Federal Republic of Germany, the Grand Duchy of Luxembourg and the Republic of Austria, no public offer is being made.
The securities will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act.
This publication does not constitute a prospectus. The investment decision of interested investors with respect to the securities referred to in this publication should be made solely on the basis of the securities prospectus and the terms and conditions of the bonds prepared by the Issuer in connection with the public offering of these securities, which are each available for inspection free of charge on the Issuer’s website at www.hep.global/green-bond-2023.
This release contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management of hep solar projects GmbH. Forward-looking statements should not be construed as a promise of future results and developments and involve known and unknown risks and uncertainties. Various factors could cause actual future performance or events to differ materially from those described in these statements, and neither the Company nor any other person accepts any responsibility for the accuracy of the opinions expressed in this release or the underlying assumptions. The Company does not assume any obligations to update any forward-looking statements. Moreover, it should be noted that all forward looking statements only speak as of the date of this release and that the Company does not assume any obligation, except as required by law, to update any forward-looking statement or to conform any such statement to actual events or developments. The Company and its affiliates expressly disclaim any obligation or undertaking to update, review or revise any forward-looking statement contained in this release, whether as a result of new information, future developments or otherwise.
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