Green Bond

The Green Bond
with hep

The Green Bond from hep

The owner-run hep global group possesses a strong combination of extensive expertise in photovoltaics and investment. In its “Services” arm, the company operates as an international single-source specialist for the development, construction and operation of solar parks, focusing on the USA, Japan, Germany, and Canada. hep’s “Investments” department covers the shaping, management and marketing of Alternative Investment Funds through its own investment management company. Standardized processes between the “Services” and “Investments” arms enable quick transactions, with low costs. The successful track record comprises 800 MWp of developed power output and a fund volume of approx. EUR 268 million (as at 3/31/2021) under management. With a pipeline of 5.3 GWp, hep has a strong basis for further dynamic growth. Anticipated total sales, based just on market values, for late-stage/notice to proceed projects to 2025 amount to over EUR 500 million.
Detailaufnahme von zwei Solarpanelen auf einem Solarpark
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of developed projects
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of secured projects in the pipeline
0 million euros*
of assets under management
*including managed third-party capital
Solarmodule eines Solarparks in Deutschland

Over the past 10 years, hep has primarily financed project development services through its own project development fund, but now the early-stage and “active development” project development is similarly being undertaken at its own expense. These development phases are characterized by a significantly larger number of projects in the market, alongside significantly higher margins compared to the subsequent phases, whilst also having a lower capital requirement per projected KWp. In light of this, around 75 % of the proceeds of issue from the Green Bond 2021/2026 are intended for financing the acquisition of future photovoltaic projects in the early stage and active development phase. Some 25 % of the incoming proceeds are planned as working capital to develop and expand the hep global group.

Key data at a glance

0 million euros
placed volume
0 % p.a.
coupon
0 years term*
*May 18, 2021 to May 18, 2026 (exclusive)
Issuerhep global GmbH
Financial instrumentGreen Bond (classified by imug/SPO)
VolumeUp to EUR 25 million
Placed volumeEUR 25 million
ISIN/WKNDE000A3H3JV5 / A3H3JV
Coupon6.5% p.a.
Issue price100 %
DenominationEUR 1,000
Value date18 May 2021
Term5 years: 18 May 2021 to 18 May 2026 (exclusive)
Interest paymentSemi-annually, in arrears on 18 November and 18 May of each year (for the first time in 2021)
Redemption date18 May 2026
Redemption price100 %
StatusUnsubordinated, unsecured
Special termination rights of the Issuer

  • From 19 May 2024 at 102% of the nominal amount

  • From 19 May 2025 at 101% of the nominal amount
Termination rights of bondholders and covenants

  • Change of control

  • Cross default

  • Negative pledge

  • Prohibition of distributions up to EUR 5.5 million in equity in 2021, up to EUR 11 million in equity in 2022 and up to EUR 15 million in equity from 2023

  • Distribution limitation to 50% of the amount exceeding the respectively applicable equity threshold

  • Violation of the retention agreement for shareholder loans

  • Transparency obligation

  • Positive pledge
Applicable lawGerman law
Prospectus

  • EU Growth 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 segmentOpen Market of Deutsche Börse AG (“Freiverkehr“ of Frankfurt Stock Exchange)
Financial advisorLewisfield Deutschland GmbH
BookrunnerQuirin Privat­bank AG

Reports & documents

No data was found

Financial reports

Interim Consolidated Financial Statements 2022

Consolidated financial statements 2021

Interim Consolidated Financial Statements 2020

Consolidated financial statements 2020

Financial calendar

18. Mai 2023

Zinszahlung für den Green Bond 2021/2026

Q3 2023

Konzernabschluss 2022

Oktober 2023

Konzernhalbjahresabschluss 2023

18. November 2023

Zinszahlung für den Green Bond 2021/2026

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Your personal
contact

Thomas Tschirf

+49 7135 93446–0

greenbond@hep.global

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