The information contained on the following website is intended exclusively for persons who are domiciled and habitually resident in Germany, Austria, or Luxembourg. The information does not constitute, in any other country, a solicitation, an offer, an invitation to make an offer, or a recommendation to subscribe for, purchase, or sell securities or to enter into comparable legal transactions or legal acts. hep solar projects GmbH makes no warranty that the bonds of hep solar projects GmbH described on the following website are suitable as an investment for all investors. No public offering of securities outside Germany, Austria, and Luxembourg is taking place or is intended. The public offering in Germany, Austria, and Luxembourg is made exclusively on the basis of a securities prospectus that has been approved by the Luxembourg securities supervisory authority, the Commission de Surveillance du Secteur Financier ("CSSF"), and has been notified to the German Federal Financial Supervisory Authority ("BaFin") and the Austrian Financial Market Authority ("FMA") pursuant to Articles 24 and 25 of Regulation (EU) 2017/1129 (the Prospectus Regulation).
The approval of the prospectus should not be understood as an endorsement of the offered securities. It is recommended that potential investors read the prospectus before making an investment decision in order to fully understand the potential risks and opportunities of the decision to invest in the securities.
Securities of hep solar projects GmbH may only be sold or offered for purchase in the United States of America ("USA") or to, or for the account or benefit of, US persons (as defined in Regulation S of the U.S. Securities Act of 1933, as currently in effect (the "Securities Act")) following prior registration under the provisions of the Securities Act, or without registration only pursuant to an exemption from the registration requirement. hep solar projects GmbH does not intend to register the offering or any part thereof in the USA or to conduct a public offering of securities in the USA.
The information and documents contained on the following website and all its subpages are not intended for US persons or persons resident in the United States of America, Canada, Australia, or Japan. The information may neither be viewed by such persons nor distributed to them, as the bonds referred to on this website may not be offered or sold in the United States or to or for the account of US persons or other persons resident in Australia, Canada, Japan, or the United States. Any violation of these restrictions may constitute a breach of securities law provisions in those countries.
Copying, forwarding, or otherwise transmitting the information contained on the following web pages is not permitted. This restriction expressly does not apply to the downloading of the securities prospectus (including any supplements).
In some other countries as well, the acquisition of bonds about which information is made available on this website may be generally prohibited or restricted to certain persons, and therefore only available to specific investors. The same may also apply to the distribution of information about these bonds. It is the responsibility of each user of this website to inform themselves about the restrictions applicable to them and to comply with them.
By clicking the "I confirm" button, you confirm that you have read this notice regarding the information on the following website in full, that your domicile and habitual residence is in Germany, Austria, or Luxembourg, and that you will not transmit or forward the information contained on the following website to persons whose domicile and habitual residence is not in those countries.
I hereby confirm that I have read this notice regarding the information on the website in full, that my domicile and habitual residence is in Germany, Austria, or Luxembourg, and that I will not transmit or forward the information contained on the following website to persons whose domicile and habitual residence is not in those countries.

Green Bond 2021/2026
For the last 10 years, hep solar funded project development services mainly through specialized funds. Now, we’re taking early-stage and active development projects onto our own balance sheet. These phases stand out with a much larger number of projects in the pipeline, significantly higher margins compared to later stages, and relatively low capital needs per projected kWp. That’s why about 75% of the proceeds from the Green Bond 2021/2026 are earmarked to finance the acquisition of future photovoltaic projects in the early-stage and active development phases. The remaining ~25% goes toward working capital to fuel the group’s growth and expansion.
Million Euros
Maximum Issue Amount
Annual Coupon
Years Term
Mai 18, 2021 through Mai 18, 2026 (exclusive)
Creditors’ Vote
The bondholders of the Green Bond 2021/2026 (ISIN: DE000A3H3JV5) (“Green Bond 2021/2026”) of hep global GmbH (“Company”) approved, on May 5, 2026, at the 2nd bondholders’ meeting in Heilbronn, with the required majority of at least 75% (approval: 99.92%) and the required quorum of 25% (attendance: 43.96%) to amend the terms and conditions of the Green Bond 2021/2026. In accordance with the modified resolution proposal of SdK Schutzgemeinschaft der Kapitalanleger e.V. (“SdK”), published on the Company’s website on April 7, 2026, which the Company had endorsed, among other things, the term of the 2021/2026 Green Bond will be extended by 18 months until November 18, 2027. In addition, the interest rate on the bond will be increased from 6.5% to 8.0% if the Company does not fully repay the bond within 6 months of its original maturity date on May 18, 2026.
The Company would like to thank all bondholders for their strong support, as expressed through their votes. The one-time resolution fee will be paid following the implementation of the resolutions of the 2nd Bondholders’ Meeting, which is expected to take place by the end of June 2026. If the amendment to the bond terms does not take effect, no payment will be made. We will provide information regarding the effective date of the resolution via a press release on the website https://hepsolar.com/green-bond-2021-2026/. If you participated in the vote at the 2nd Creditors’ Meeting on May 5, 2026, please send the form available below, once the resolution has taken effect, to greenbond@hep.global.
Please note that, for technical reasons, trading in the Green Bond 2021/2026 will be temporarily suspended upon the expiration of the previous term on May 18, 2026. No transactions will be possible until trading resumes, which is why no reliable value can be displayed. Trading will resume as soon as Clearstream, as the central securities depository, has successfully filed the new bond terms. Trading is expected to resume at the end of June 2026.
Important documents for the creditors’ vote
(Documents available in German)
Key Facts
| Issuer | hep global GmbH |
|---|---|
| Financial Instrument | Green Bond (classified according to imug/SPO) |
| Issuance Volume | Up to 25 Million Euros |
| Placed Volume | 25 Mio. Euro |
| ISIN/WKN | DE000A3H3JV5 / A3H3JV |
| Coupon | 6.5 % p.a. |
| Issue Price | 100 % |
| Denomination | 1,000 Euros |
| Valuta Date | May 18, 2021 |
| Tenor | May 18, 2021 - May 18, 2026 (exclusive) |
| Interest Payment | Semi-annually, in arrears on May 18 and November 18 of each year (first payment in 2021) |
| Redemption Date | May 18, 2026 |
| Redemption Amount | 100 % |
| Status | Senior unsecured |
| Early redemption Rights of the Issuer | From May 19, 2024: 102% of principal; From May 19, 2025: 101% of principal |
| Bondholder Put Rights & Covenants | Change of control, cross default, negative pledge, dividend restrictions up to €5.5M equity in 2021, €11M in 2022, and €15M from 2023 onward, dividend cap at 50% of amounts exceeding the applicable equity threshold, breach of encumbrance agreement for shareholder loans, transparency obligations, positive covenants |
| Governing Law | German Law |
| Prospectus | Approved securities prospectus by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg, notified to the German Federal Financial Supervisory Authority (BaFin) and the Austrian Financial Market Authority (FMA). Approval of the prospectus should not be understood as an endorsement of the securities offered. |
| Listing Segment | Open Market (Regulated Unofficial Market) of Deutsche Börse AG (Frankfurt Stock Exchange) |
| Financial Advisor | Lewisfield Deutschland GmbH |
| Bookrunner | Quirin Privatbank AG |
Documents
(available in German)
Financial Reports
(available in German)
Financial Calendar
| May 5, 2026, 10:30 a.m.: Second meeting of bondholders regarding the 2021/2026 Green Bond in Heilbronn |
| May 18, 2026: Semi-annual interest payment and redemption of the Green Bond 2021/2026 |
| June 2026: 2025 Financial Statements |
| October 2026: 2026 Half-Year Financial Results |

Want to Learn More About Our Green Bond?
Sustainability isn’t just something we strive for — it’s built into our financial strategy. Evelyn Kilinc is your direct contact for questions about our Green Bond and for conversations around green finance more broadly. She brings deep insight into current market trends and is happy to help with any questions you may have.

Our Green Bond is focused solely on solar energy, but the hep solar Invest ELTIF may be better aligned with your investment goals. By combining solar energy and battery storage, it offers a broader approach to sustainable investing. Explore more investment opportunities: