Kurs & Likviditet
Beskrivning
Land | Irland |
---|---|
Lista | Euronext Growth Oslo |
Sektor | Energi & Miljö |
Industri | Energikällor |
2021-04-16 18:19:18
AEG has entered into 9 million (NOK90m) of secured convertible loan notes (Notes) used to settle 13m (NOK131m) in existing secured debt and for general working capital purposes.
AV Group Sarl (AVG), an Oslo/Luxembourg based asset manager focused on Nordic ESG and Impact investments provided 8 million (NOK 80m) of the total with the remainder being provided by private individuals.
Alternus has used the proceeds to settle in full an existing 13 million loan note issued in conjunction with the 109 MW portfolio of new acquisitions. Settlement of the existing debt will generate a gain of approximately 4 million in the consolidated income statement for AEG that will serve to offset the interest charges incurred with the Notes.
The Notes have a 3-year term and accrues annual interest at a 10% fixed rate, payable in cash every six months during the term. The Notes are secured by a floating charge security over all of the property and assets of the Company, with the exception of the AEG ownership of Solis BondCo DAC, as was the case with the existing note being settled. All outstanding principal plus a premium of 120% is due 3 years from the date of issuance. The Company is entitled, at its sole option, to prepay the notes at a reduced premium of 110% on the second anniversary of the issuance. Between 31st August 2021 and 9th March 2023, the holders have the option to convert up to a total of 50% of the principal amount of the notes into shares of the Companys ordinary shares at a price of 4.00 per share which would see the Company issue 1,125,000 shares if exercised. If at any time, the market price of the Companys ordinary shares is greater than 8.00 per share for 30 consecutive trading days, the Company is entitled to prepay the notes at 110% premium for any unconverted capital.