By Marisa Wong
Morgantown, W.Va., April 25 – PNE WIND AG said it set the final volume at €50 million for its 4% bonds due 2023.
As previously announced, PNE set the coupon at 4%, the low end of 4% to 4¾% price talk, given high investor interest in the new bonds.
The subscription period began on Tuesday. The company had said that due to anticipated demand, it expected to complete the offering that same day. The subscription period was originally slated to close on Wednesday.
The company said the bonds were offered as part of a public offering in Germany and Luxembourg. Bonds were also offered to institutional investors through a private placement.
IKB Deutsche Industriebank AG and M.M. Warburg & Co. (AG & Co.) KGaA are the arrangers.
Listing of the bonds on the open market of the Frankfurt Stock Exchange is expected to occur on May 2.
PNE is a Cuxhaven, Germany-based company that develops wind farms on land and at sea.
| Issuer: | PNE WIND AG
|
| Issue: | Bonds
|
| Amount: | €50 million
|
| Maturity: | 2023
|
| Arrangers: | IKB Deutsche Industriebank AG and M.M. Warburg & Co. (AG & Co.) KGaA
|
| Coupon: | 4%
|
| Price talk: | 4%-4¾%
|
| Offer period: | April 24
|
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