• Two series of green notes (XXXV and XXXVI) have been issued at 0% and 5.65% with 3- and 10-year maturities.
• These instruments will be traded on the ByMA’s panel of SVS Bonds.
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Buenos Aires, December 21, 2021. Genneia –the leading renewable energy generation company in Argentina– placed two new Notes for USD 67 million. Hence, the company went beyond its initial goal of USD 40 million and shows the confidence placed by the market in Genneia as it received offers for over USD 100 million.
These Notes will be traded on the panel of Social, Green and Sustainable bonds (SVS) of ByMA, the local stock exchange on which the main capital market players trade securities, and the proceeds will be used in financing the Solar Photovoltaic Project Sierras de Ullum.
As a result of this transaction, Genneia issued two series of dollar-linked Notes. First, the Series XXXV Notes for USD 17 million will be issued at a fixed 0% interest rate subject to a 3-year term. Second, the Series XXXVI Notes for USD 50 million will be issued at a fixed 5.65% interest rate, payable on a quarterly basis, and repayable in 12 equal and biannual installments starting in month 54 with a 10-year maturity term.
Tenders were mostly placed by private investors and institutions interested in sustainable projects with a positive impact on the environment that helps mitigate climate change. This transaction was coordinated by Banco Macro as Arranger; while Macro Securities, Balanz, BACS, Banco Santander, and Banco Hipotecario acted as Placement Agents; and Nuevo Chaco Bursátil as Sub-Placement Agent.
In this way, Genneia successfully completed its financing plan to carry out the new Solar Photovoltaic Project Sierras de Ullum to be situated in the south-central area of the Province of San Juan with an installed capacity estimated at 80 MW.
This solar farm will produce energy to meet the demand of industrial large users, thus contributing to the challenge of reducing their carbon footprints. The capital market is playing a key role in the drive toward a more sustainable profile.