Green Bond - hep

Green Bond

The owner-mana­ged hep glo­bal Group has a strong com­bi­na­ti­on of many years of pho­to­vol­taic and invest­ment exper­ti­se. In the “Ser­vices” seg­ment, the com­pa­ny acts as an inter­na­tio­nal spe­cia­list for the deve­lo­p­ment, con­struc­tion and ope­ra­ti­on of solar parks from a sin­gle source with a focus on the USA, Japan, Ger­ma­ny and Cana­da. In the “Invest­ments” seg­ment, hep covers the con­cep­ti­on, manage­ment and sales of alter­na­ti­ve invest­ment funds through its own capi­tal manage­ment com­pa­ny. Stan­dar­di­zed pro­ces­ses bet­ween the “Ser­vices” and “Invest­ments” seg­ments enab­le fast tran­sac­tions with low costs.

The suc­cess­ful track record is com­po­sed of 800 MWp of deve­lo­ped capa­ci­ty and a fund volu­me of around EUR 268 mil­li­on (as of 31/03/2021) under manage­ment. With a pipe­line of 5.3 GWp, hep has a strong basis for fur­ther dyna­mic growth. The expec­ta­ble total reve­nue from so-cal­led late-sta­ge/­no­ti­ce-to-pro­ceed pro­jects based on mar­ket values alo­ne amounts to more than EUR 500 mil­li­on by 2025.

After hep has finan­ced pro­ject deve­lo­p­ment ser­vices pri­ma­ri­ly through its own pro­ject deve­lo­p­ment funds over the past 10 years, so-cal­led ear­ly-sta­ge and acti­ve-deve­lo­p­ment pro­ject deve­lo­p­ment is now car­ri­ed out on its own account. The­se deve­lo­p­ment pha­ses are cha­rac­te­ri­zed by a clear­ly lar­ger num­ber of pro­jects on the mar­ket and signi­fi­cant­ly hig­her mar­gins com­pa­red to the sub­se­quent pha­ses, while at the same time requi­ring less capi­tal per pro­jec­ted KWp. Against this back­ground, around 75% of the pro­ceeds from the issue of the Green Bond 2021/2026 are inten­ded to be used to finan­ce the acqui­si­ti­on of future pho­to­vol­taic pro­jects in the ear­ly-sta­ge and acti­ve-deve­lo­p­ment pha­ses. Around 25% of the inflowing funds are plan­ned for working capi­tal for the estab­lish­ment and expan­si­on of the hep glo­bal Group.

Key data of the Green Bond 2021/2026

Issu­er hep glo­bal GmbH
Finan­cial instrument Green Bond (clas­si­fied by imug/SPO)
Issue volu­me Up to EUR 25 million
Pla­ced volume EUR 25 million
ISIN/WKN DE000A3H3JV5 / A3H3JV
Cou­pon 6.5% p.a.
Issue pri­ce 100%
Deno­mi­na­ti­on EUR 1,000
Value date 18 May 2021
Term 5 years: 18 May 2021 to 18 May 2026 (exclu­si­ve)
Inte­rest payment Semi-annu­al­ly, in arre­ars on 18 Novem­ber and 18 May of each year (for the first time in 2021)
Redemp­ti­on date 18 May 2026
Redemp­ti­on price 100%
Sta­tus Unsub­or­di­na­ted, 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 law Ger­man 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 segment Open Mar­ket of Deut­sche Bör­se AG („Frei­ver­kehr“ of Frank­furt Stock Exchange)
Finan­cial advisor Lewis­field Deutsch­land GmbH
Bookrun­ner Qui­rin Pri­vat­bank AG

Finan­cial calendar
Octo­ber 2021 Con­so­li­da­ted finan­cial state­ments 2020
18 Novem­ber 2021 Inte­rest pay­ment for the Green Bond 2021/2026
18 May 2022 Inte­rest pay­ment for the Green Bond 2021/2026
June 2022 Con­so­li­da­ted finan­cial state­ments 2021
Octo­ber 2022 Con­so­li­da­ted half-year finan­cial state­ments 2022
18 Novem­ber 2022 Inte­rest pay­ment for the Green Bond 2021/2026
Con­ta­ct

    Mr.Mrs.Diver­se
    By cli­cking this box, I agree that my infor­ma­ti­on will be sub­mit­ted to hep and used to get in touch. I am awa­re that I can revo­ke my per­mis­si­on at any time.

    Your per­so­nal
    Contact

    THO­MAS TSCHIRF

    hep glo­bal GmbH
    Römer­stra­ße 3 · D‑74363 Güg­lin­gen
    +49 7135 93446–0
    greenbond@hep.global

    Thomas Tschirf

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