Showing once again market confidence, Genneia received offers largely in excess of the issued amount. Hence, the solid financial results and the attractiveness of sustainable infrastructure project investments enabled the company to obtain new financing. The proceeds will be used in financing the construction of the new La Elbita I and II wind power projects in the Province of Buenos Aires and the Tocota III solar project in the Province of San Juan.
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Buenos Aires, November 10, 2022 - Genneia, the leading renewable energy generation company in Argentina, placed two Notes equivalent to USD 51 million, largely exceeding the initial target amount of USD 40 million. In the aggregate, the company received offers for over USD148 million. These Notes were admitted to 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 they constitute the seventh instrument of the company to qualify as green bonds.
The company carried out a tender process for two series of Dollar-linked Notes. First, the reopening of the Dollar-linked Series XXXV Notes for USD 21 million, issued at 107.75% of its principal amount, with a 0% fixed coupon, due in December 2024. Second, the Series XXXVII Notes, for USD 30 million were issued at a 0% fixed interest rate, with the principal amount repayable in 3 installments on the 42th, 45th months and a maturity date in 2026.
The tenders largely exceeded the initially offered amount and were mostly placed by private and institutional investors interested in low-carbon infrastructure projects that pave the way for the equitable and sustainable development of the country. This transaction was executed under the coordination of Banco Macro, as Arranger, while Macro Securities, Banco Santander, BBVA, Banco Patagonia, BACS, Banco Hipotecario, Balanz, Facimex, MAX and TPCG acted as Placement Agents.
The proceeds will be used to finance the construction of La Elbita I and II wind power projects in Tandil, Province of Buenos Aires and the Tocota III solar project in the Province of San Juan.