Despite the macroeconomic environment, the company closed yesterday the issuance of Notes, reaffirming its financial strength
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Genneia, the leader in renewable energy generation in Argentina placed a new issue of bonds in peso and dollar linked and secured funding for the equivalent of 28 million dollars surpassing its initial target of $ 10 million.
In the first case, Class XXVII, linked dollar at a fixed rate of 5% per annum, maturing in May 2021 for more than $ 21 million. On the other hand, Class XXVI in pesos at a BADLAR rate plus an annual margin of 5%, amounting to 425 million maturing in November 2020.
The proceeds from this issuance will be used to refinance short-term liabilities and working capital. Orders fully covered the amount offered came mostly from leading institutional investors and was conducted under the coordination of Banco Macro. Macro S.A. Securities, Capital Securities Balanz SAU, BACS Banco de Credito y Puente, acted as underwriters.
Representing the first in generating renewable energy companies in the country, with 1,272 MW of installed capacity, Genneia has solid long-term contracts that guarantee stable future flow of funds to the company. Within the expansion plan that are developing, investment strategies focus on renewable energies with the launch of its wind farms Madryn Chubut Norte (in the province of Chubut), Villalonga and Necochea (Buenos Aires) Pomona (Black River) and its solar park Ullum (in San Juan).
About Genneia
Genneia is a leader in providing sustainable energy solutions, which exceeds the horizon of the 1,200 MW power generation in Argentina. It owns more than 35% of installed capacity in wind energy, making it the number one in the sector. The company has a superior power to 610 MW of wind power with wind farms Rawson, Trelew, Madryn, Chubut Norte, Villalonga, Pomona, Necochea; and reaches 700 MW of renewable energy, considering its solar park Ullum (82 MW) located in the province of San Juan. In addition, wind projects Chubut North III (57 MW) and North Chubut IV (MW 83) are under construction together with PAE; and Chubut Norte II (26 MW) project destined for the Term Market Renewable Energy, ie, bound for private clients. Genneia also owns and operates six thermal generators (573 MW).