Terna Energy $69 Mln Bond Issue Oversubscribed

Renewable energy producer Terna Energy raised 60 million euros ($69 million) through an oversubscribed bond issue, the banks which managed the sale said on Wednesday.

 

The yield was set at 3.85 percent, Alpha Bank and Eurobank said, at the lower end of the indicative 3.75-4.25 percent range, with total offers coming in at 154.4 million euros.

 

Terna Energy has said the proceeds will be used to fund investments in Greece and the United States.

 

Terna invested more than 600 million euros between 2012 and 2016 and plans to spend another 500 million euros by 2019. It wants to boost its installed capacity to 1 gigawatt next year from 738 megawatts now.

 

The public offer for the bond ran from July 17 to 19.


($1 = 0.8681 euros)