Good Energy Offers To Extend Maturity On Bond Amid Investor Demand (ALLISS)
LONDON (Alliance News) - Good Energy Group PLC said Tuesday it offered to extend the maturity date on its first bond issue after continued demands from investors.
The AIM-listed renewable energy supplier said it would redeem its first bond - issued in 2013 - on March 29. This followed the sale of Newton Downs solar farm in Devon and Brynwhilach solar farm near Llangyfelach, Swansea for which the bond issue was originally purposed.
Good Energy sold Newton Downs for GBP5.8 million and Brynwhilach for GBP5.6 million in late December.
Good Energy emphasised, however, that it was writing to all bondholders about the possibility of extending the maturity to November 22, 2019 at an interest rate of 4.25% per annum. All other terms on the debt would remain the same.
The utility provider extended the offer after a "number" of bondholder told the company they wished to continue holding the bonds. Any investors who wish to continue to hold their bondholding must notify the company by the start of March.
Bondholders who wish to have their bonds redeemed need not do anything.
Shares in Good Energy closed 0.3% lower at 137.10 pence on Tuesday.
By Ahren Lester; [email protected]
Copyright 2018 Alliance News Limited. All Rights Reserved.
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