hep global GmbH, an international specialist in the development, implementation, and operation of photovoltaic projects, as well as an investment manager for solar funds through its subsidiaries, has successfully concluded the public offering of its 6.5% Green Bond 2021/2026 (ISIN: DE000A3H3JV5). The maximum issue volume of €25 million was fully placed with institutional and retail investors. Of this amount, €3.677 million was subscribed via Deutsche Börse AG’s “DirectPlace” subscription platform and was fully allocated.
hep global GmbH: Successful full placement of the 6.5% Green Bond 2021/2026 with a volume of €25 million
The company will use the proceeds from the offering to finance further growth. Approximately 75% of the funds are earmarked for financing the acquisition of future photovoltaic projects in the early-stage and active-development phases, while approximately 25% will be used as working capital for the establishment and expansion of hep. The successful offering was supported by Lewisfield Deutschland GmbH as financial advisor and by Quirin Privatbank AG as bookrunner.
“We are very pleased with the high investor demand for our green bond. We view the successful full placement as a strong vote of confidence in our business model and our growth strategy. We would like to express our sincere thanks for this. We would also like to thank our partners who supported us with our debut bond, and above all our staff, who play a key role in ensuring that hep is well-positioned for further sustainable growth,” explains Christian Hamann, founder and CEO of hep global GmbH.
| 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 |
Important Note:
This publication does not constitute a prospectus. This publication is neither an offer to sell nor a solicitation of an offer to purchase securities. The securities that are the subject of this publication were offered by the issuer exclusively in the Federal Republic of Germany, the Grand Duchy of Luxembourg, and the Republic of Austria by way of a public offering. No public offering was made outside the Federal Republic of Germany, the Grand Duchy of Luxembourg, and the Republic of Austria. The public offering has closed.
The securities have not been registered under the U.S. Securities Act of 1933, as amended (“Securities Act”), and may not be offered or sold in the United States without registration under the Securities Act or an applicable exemption from registration requirements.
This announcement contains forward-looking statements. These statements are based on the current views, expectations, assumptions, and information available to the management of hep global GmbH. Forward-looking statements should not be construed as promises of future results or developments and involve known and unknown risks and uncertainties. Various factors may cause actual future performance or events to differ materially from those described in these statements, and neither the Company nor any other person assumes responsibility for the accuracy of the opinions expressed in this press release or the underlying assumptions. The Company assumes no obligation to update forward-looking statements. Furthermore, it should be noted that all forward-looking statements are valid only as of the date of this announcement and that the Company assumes no obligation, unless required by law, to update forward-looking statements or to adjust them to actual events or developments. The Company and its affiliates expressly disclaim any obligation to update, review, or correct the forward-looking statements contained in this announcement, whether as a result of new information, future developments, or for any other reason.