ABO Wind Initiates €50m Green Bond Sale

German renewables developer ABO Wind AG on Monday opened subscriptions in a EUR-50-million (USD-53.3m) bond offering aimed at raising proceeds for new wind, solar and storage projects.

Investors will be able to place orders for the green bond until May 2, 2024. The subscription period could be terminated earlier than the due date or prolonged, provided that the offer is extended.

The 2024/2029 bond is marketed publicly in Germany, Luxembourg, and Austria, with the sale targeting institutional investors, asset managers and private investors. The five-year bond has a fixed annual interest rate of between 7% and 8% and will mature on May 8, 2029. Its final interest rate is to be determined in a book building process post offer.

The securities will be listed for trading in the Quotation Board segment of the Frankfurt Stock Exchange.

As announced earlier this month, ABO Wind will use the net proceeds, estimated at up to EUR 48 million, to finance the development and construction of grid-connected renewable energy and storage capacity. At present, the company has some 23 GW of projects under development.