hep solar projects GmbH, a wholly owned subsidiary of hep global GmbH, a Baden-Württemberg-based specialist in solar parks and solar investments, has decided to issue a corporate bond (ISIN: DE000A351488) with a total volume of up to €30 million. The security, which has been qualified as a green bond by imug rating in accordance with the International Capital Market Association’s Green Bond Principles 2021, carries an interest rate of 8% p.a. over a five-year term.
hep solar projects GmbH is issuing an 8% Green Bond 2023/2028 with a total value of up to 30 million euros
Interested investors can subscribe to the hep Green Bond 2023/2028 as part of the public offering in Germany, Austria, and Luxembourg starting October 6, 2023, via the issuer’s website at www.hep.global/green-bond-2023 and through selected distribution partners. Lewisfield Deutschland GmbH is serving as financial advisor for the issuance.
The funds will primarily be used to finance the development of photovoltaic projects by the hep global Group in Europe, the United States, Canada, and Japan. Specific measures include the acquisition of projects and project rights, services during the various phases of project development, down payments for solar park components, and security deposits for grid connections or power purchase agreements. Financing is provided through loans that the issuer grants exclusively within the hep global Group. The term is generally up to approximately 3 years, and the interest rate is always more than 8% per annum.
The securities prospectus, which has been approved by the Commission de Surveillance du Secteur Financier (“CSSF”) in Luxembourg and notified to the Federal Financial Supervisory Authority (“BaFin”) in Germany and the Austrian Financial Market Authority (“FMA”), is available on the website of hep solar projects GmbH (www.hep.global/ green-bond-2023).
The hep Green Bond 2023/2028 is expected to be admitted to trading on the Open Market of Deutsche Börse AG (the over-the-counter market of the Frankfurt Stock Exchange) on March 29, 2024.
| Issuer | hep solar projects GmbH |
|---|---|
| Financial Instrument | Green Bond (classified according to imug/SPO) |
| Issuance Volume | Up to 30 Million Euros |
| Placed Volume | 22.7 Million Euros |
| ISIN/WKN | DE000A351488/A35148 |
| Coupon | 8 % p.a. |
| Issue Price | 100 % |
| Denomination | 1,000 Euros |
| Valuta Date | November 22, 2023 |
| Tenor | November 22, 2023 - November 22, 2028 (exclusive) |
| Interest Payment | Semi-annually, in arrears on May 22 and November 22 of each year (first payment in 2024) |
| Redemption Date | November 22, 2028 |
| Redemption Amount | 100 % |
| Status | Senior unsecured |
| Early redemption Rights of the Issuer | Special redemption right for tax reasons; from November 23, 2026 at 102% of par value; from November 23, 2027 at 101% of par value; special redemption right if 80% of the total principal amount of the bonds has been repurchased, redeemed, or cancelled |
| Bondholder Put Rights & Covenants | Change of control, negative pledge, cross-default, reporting obligation |
| Governing Law | German Law |
| Prospectus | Securities prospectus approved by the Commission de Surveillance du Secteur Financier ("CSSF") in Luxembourg, with notification to the German Federal Financial Supervisory Authority ("BaFin") and the Austrian Financial Market Authority ("FMA"). The approval of the prospectus should not be understood as an endorsement of the offered securities. |
| Listing Segment | Open Market of Deutsche Börse AG (Freiverkehr of the Frankfurt Stock Exchange) |
| Financial Advisor | Lewisfield Deutschland GmbH |
Important Notice:
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This publication does not constitute an offer to sell or a solicitation of an offer to buy any securities. The securities that are the subject of this publication are being 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 is being made outside the Federal Republic of Germany, the Grand Duchy of Luxembourg, and the Republic of Austria.
The securities are not 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 publication does not constitute a prospectus. Investment decisions by interested investors regarding the securities mentioned in this publication should be made solely on the basis of the securities prospectus prepared by the issuer in connection with the public offering of these securities and the bond terms and conditions, both of which are available free of charge on the issuer’s website at hepsolar.com/en/green-bond-23-28.
This press release contains forward-looking statements. These statements are based on the current views, expectations, assumptions, and information available to the management of hep solar projects 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.