Demand for Greenvolt bonds exceeds supply by 12%

Demand for Greenvolt bonds exceeds supply by 12%

Demand for Greenvolt’s ‘green’ bonds exceeded available supply. According to the statement released this Monday by the renewable energy company, demand reached 112% of the total bonds on offer, which translated into 111.58 million euros.

The search for bonds includes not only the initial value, but also the revised upward value, as initially 150 thousand of these bonds were made available with a value of 500 euros per house (minimum investment of 2500 euros). Initially, Greenvolt planned to raise 75 million euros from the market, and even before the end of the operation the company “revised upwards the amount to be obtained from this financing operation from 75 to 100 million euros (200 million bonds) ”.

Between January 29th and February 9th (the last day for investors to subscribe to these bonds), “an aggregate demand of 111.58 million euros was recorded, 12% above the revised objective of obtaining 100 million euros from this operation” .

This was the second issue on the primary market aimed at small savers carried out by Greenvolt. Like the previous operation, carried out in 2022, Greenvolt had the support of a large number of investors, which amounted to 2914, reveals the note.

The bonds, which mature in five years, offer a gross annual interest rate of 4.65%, with interest payments to be made every six months after the settlement date of the offer, on February 14, 2024. Interest will be credited to investors’ accounts on February 14th and August 14th, every year, until maturity in February 2029.

The money obtained from this issuance will allow Greenvolt to “accelerate, in a sustained manner, its growth strategy, completely centered on renewable energy, and based on three primary segments: sustainable biomass, large-scale renewable energy projects and distributed generation”.

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This news article has been translated from the original language to English by WorldsNewsNow.com.

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