Listed Green Energy Bond – Coupon of 7.75% with interest paid quarterly in arrears
Listed Green Energy Bond
£30 million “green bond” listed on the London Stock Exchange. The bond will be secured against the assets in the issuing company for a five-year term with a coupon of 7.75% with interest paid quarterly in arrears.
The Company was formed in 2012 specifically to acquire liquid biomass power stations in Northern Italy. The Group is founded on “green principles” and its focus has been to create an environmentally friendly, renewable energy supply using various biomass feed stocks. To date the group has acquired, refurbished and operated three plants profitably for a period of three years. The three plants are held through special purpose vehicle structures (SPVs) with a UK holding company. The three plants at optimal production generate circa €2.4 million per annum of EBITDA.
The Group would now like to expand the business via the issuance of “green” bonds listed on the London Stock Exchange. To begin this process the Group has formed Green Bio Energy Plc (“GBE”) which has purchased three subsidiaries from Agrofarm London being; Greenworld Power SRL (owning two plants), Berbenno Energia SRL (owning one plant) and Agrofarm UK Ltd which holds the ISCC license and license to trade in vegetable oil throughout Europe.
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