Akuo Energy, a French IPP in renewable energy, has announced the success of its latest green bond issue, which has enabled it to raise €44 million (US$49.2 million).
This was the second issue of this type carried out by the group, following the inaugural issue of June 2015 when the fimr stood out by being the first IPP in renewable energy in France to issue a green bond. Through this latest issue, Akuo Energy has raised €44 million (US$49.2 million), almost €10 million more than in 2015.
As well as the many investors who renewed their interest in this bond issue, such as Zencap AM (OFI group), a number of new institutional investors also subscribed to this issue, and notably Mirova’s bond funds.
The proceeds of this bond issue will be exclusively allocated to finance the green power plants owned by the group, and will enable it both to extend the maturity of its corporate debt and to continue investing in new plants.
Octo Finances was the Lead Manager and Bookrunner for this bond issue. CMS Bureau Francis Lefebvre was the legal advisor for the operation.
Eric Scotto, Chairman of Akuo Energy, says:
“A year after our first Green Bond issue, we are very pleased to have confirmation that a growing number of investors have organized themselves to be able to participate in the financing of the green economy. It’s excellent news, and I would like to wholeheartedly thank all of our longstanding investors for the interest they have again shown, our new subscribers who have chosen to put their trust in us, and our advisors who have helped make this operation such a success.”