Interest Rate Linked to Targets: Albioma Obtains Financing in the Euro-PP Market of over 100 Million Euro
Paris, France - Albioma, the independent French renewable energy producer, has announced the completion of a Euro Private Placement (Euro PP). This is a financing transaction between a company and a limited number of institutional investors. Depending on the achievement of the renewable energy targets, a bonus/malus system will apply to the interest rate.
The Albioma Group's objective is to achieve a 95 to 100 percent share of renewable energies in its energy mix by 2030. The interim targets: 80 percent renewable energies by 2023 and more than 90 percent renewable energies by 2025. Depending on whether the targets are met or not, a margin adjustment mechanism (bonus/malus), which can reach up to 25 basis points, will lead to a variation of the interest rate applicable to the bonds.
The issue will be listed on the Euronext Access exchange marketplace. The French investment bank Natixis and Société Générale have collaborated with Albioma for the implementation.
Albioma's shares, which are listed in the global RENIXX World Index, are trading at EUR 40.65 today around noon (2020-12-08, Stuttgart Stock Exchange).
Source: IWR Online, 08 Dec 2020