Corporate | 25 September 2012 09:00
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EnviTec Biogas AG / Key word(s): Miscellaneous
EnviTec Biogas AG successfully places EUR 30 million note loan Lohne, September 25, 2012 – EnviTec Biogas [ISIN: DE000A0MVLS8] has successfully placed a EUR 30 million note loan with German institutional investors to finance its growth. The company, which specialises in the construction and operation of biogas plants, will use the proceeds from the issue for general corporate financing purposes and, in particular, to expand its high-margin own plant operation activities. Bremer Landesbank acted as Sole mandated Lead Arranger. The operation of biogas plants – alone or with partners – is an activity that is characterised by stable cash flows and good margins, which is why EnviTec is aggressively expanding this segment. At the end of June 2012, the company had biogas plants with an electrical output of 44.9 MW on line – 20.4 MW more than in the previous year. EnviTec Biogas aims to have some 52 MW connected to the grid by the end of 2012 and to further expand its capacity thereafter. The issue was divided into tranches with fixed and floating interest rates and into terms of three years, five years and seven years. Based on current interest rate levels, interest rates are below 4 percent p.a., with the main emphasis on the medium maturity segment. 'The note loan has given us access to mid-term capital at attractive conditions in a challenging funding environment and helps us to diversify our funding structure,' said Jörg Fischer, CFO of EnviTec Biogas AG. 'We interpret the great interest shown by investors as a sign of confidence in our creditworthiness and our business model.' 'We are pleased about investors' interest in the debut issue of what is one of the most successful companies from our region in the renewable energy sector,' said Thomas Scheufen, departmental head at Bremer Landesbank. Besides bank loans and bonds, note loans are another form of financing, that are increasingly gaining importance also among medium-sized companies in the current capital market environment. A note loan is a large loan similar to a bond for companies with excellent credit ratings. In the past, Bremer Landesbank has lead arranged and structured several corporate issues and developed customised solutions for its clients in the context of these mandates.
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End of Corporate News 25.09.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | EnviTec Biogas AG | |
| Industriering 10a | ||
| 49393 Lohne | ||
| Germany | ||
| Phone: | +49 (0) 44 42 – 80 65 0 | |
| Fax: | +49 (0) 44 42 – 80 65 103 | |
| E-mail: | info@envitec-biogas.de | |
| Internet: | www.envitec-biogas.de | |
| ISIN: | DE000A0MVLS8 | |
| WKN: | A0MVLS | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart | |
| End of News | DGAP News-Service |
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