- With a value of 36.5 million euros and a term of 19 years
The Mercado Alternativo de Renta Fija (MARF) today registered a new project bond issue by Photonsolar, a subsidiary company of Kobus Renewable Energy II FCR, with a total value of €36.5 million. The bonds have a nominal value per unit of 100,000 euros and will accrue a nominal coupon per annum of 3.75% of the nominal value at any time, payable on a quarterly basis. The issue has an amortizing structure with quarterly nominal reductions to 2038.
Renta 4 Banco has acted as the issue’s Global Coordinator and Sole-Dealer, while the Registered Adviser in MARF is AFI. The law firm providing the issuer with legal advice has been CMS Albiñana & Suárez de Lezo while Cuatrecasas, Gonçalves Pereira has advised the placement entity.
Axesor Rating has granted Photonsolar’s bond issue a rating of BBB-, with stable outlook.
Photonsolar manages seven photovoltaic plants located in Ciudad Real, Seville, Córdoba and Mallorca, which started operations between 2006 and 2008, and have, as a whole, a nominal power of 8.82 megawatt.
Photonsolar's sole shareholder is Kobus Partners, an independent venture capital fund specialising in the renewable energy and other energy infrastructure sector. Kobus identifies, evaluates and executes investment and divestment opportunities, carrying out an active management in projects in which it participates.