Greencells GmbH calls its secured Green Bond 2020/2025 early as of 29 July 2024 at 102% of the nominal amount

Greencells GmbH calls its secured Green Bond 2020/2025 early as of 29 July 2024 at 102% of the nominal amount

Saarbrücken, 28 June 2024 – Greencells GmbH announces that it is calling early its secured 6.5% Green Bond 2020/2025 (ISIN: DE000A289YQ5) with a volume of around EUR 47 million in accordance with § 6 (3) of the bond terms and conditions with effect from 29 July 2024. The bondholders are expected to receive an early redemption amount of 102% of the nominal amount plus interest accrued on the nominal amount up to and including 28 July 2024 for the terminated bonds on that date in accordance with § 6 (3) of the bond terms and conditions. As announced in April 2024, the redemption will be made using bank financing.

The termination of the bonds was published today on the company’s website at www.greencells.com/de/ir and in the German Federal Gazette (Bundesanzeiger) in accordance with § 14 (1) of the bond terms and conditions. Bondholders do not need to take any action regarding the termination and redemption of the bonds. The bonds are represented by a global certificate which is deposited with Clearstream Banking AG, Frankfurt am Main, so that payments will be made automatically via Clearstream Banking AG and the associated custodian banks.

Andreas Hoffmann, CEO of Greencells GmbH: “We would like to thank all investors for their trust and commitment to renewable energies. Capital inflows from sustainable investments have contributed greatly to the record growth of our industry. Our company will continue to be a strong player in the energy transition and will prioritize the EPC business in the European market due to historically high demand.”

In addition to the existing “Full EPC” business, Greencells Group will also place a stronger focus on the less capital-intensive “EPC light”, “General Contracting” and “Construction only” areas. At the same time, the sales process for the development portfolio and the development platform of Greencells Group Holdings Ltd. will be continued. Successful completion is expected in the second half-year of 2024.

About Greencells GmbH:
Greencells GmbH is a global provider of EPC and O&M services specialized in utility-scale solar power plants. Together with its sister company Greencells Group Holdings Ltd. (together “Greencells Group”), which is active worldwide as a solar project developer, the company has the know-how in all project phases to optimally plan, finance, implement and operate solar projects. Greencells GmbH, founded in 2009 and headquartered in Saarbrücken, has around 90 employees as well as several hundred skilled workers at the active construction sites. As one of the largest European providers of solar power plants, Greencells Group has already been successfully involved in the construction or planning of more than 150 photovoltaic plants with a total output of over 3 GWp in more than 25 countries.