Good Energy plans £20 million bond offering with coupon of up to 5%

By Susanna Moon

Chicago, May 10 – Good Energy Group plc plans to price £10 million of 4.75% corporate bonds, its second issue, with an additional coupon of 0.25% and an initial term of four years.

The deal includes an over-subscription maximum of £20 million, according to a company announcement.

Applications for the offer are due to close on June 5.

In addition to the core coupon, investors will be paid at maturity the equivalent to 0.25% per year of being a customer and a bondholder.

Investors in Good Energy's £15 million first corporate bond will be able to roll over some or all of their investment into the second bond issue, receiving their existing higher interest rate until Nov. 22, 2017, the maturity of the first issue.

Proceeds will be used to help fund Good Energy's “next phase of growth and ability to continue innovating for a cleaner, greener and more prosperous world for future generations,” the release noted.

Good Energy is a renewable electricity supplier and generator based in Wiltshire, England.

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