By Devika Patel
Knoxville, Tenn., July 2 – Etrion Corp. said it will finance 95% of the ¥16.7 billion cost of constructing a solar project through 1.2% green bonds arranged by Goldman Sachs Japan Co. Ltd. The bonds are rated BBB.
Proceeds will be used for the construction of the 45 megawatts Niigata solar project in northern Japan.
The notes have a tenor of the construction period plus 16.8 years.
“The financing was executed flawlessly, securing a green bond at a financing cost less than a half the cost of prior projects,” chief executive officer Marco A. Northland said in a press release.
Etrion is a Geneva, Switzerland-based independent power producer that develops, owns and operates utility-scale solar power generation plants.
| Issuer: | Etrion Corp.
|
| Amount: | 95% of ¥16.7 billion
|
| Description: | Green bonds
|
| Maturity: | Construction period plus 16.8 years
|
| Coupon: | 1.2%
|
| Settlement date: | July 2
|
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