- Solar company UGE International ( OTCQB:UGEIF ) is launching a brokered private placement of green bonds for gross proceeds of up to $5M.
- The bonds, to be issued at a price of either $955 per $1,000 principal amount or CAD955 per CAD1000 principal amount, will be denominated in U.S. dollars and Canadian dollars.
- The bonds will have a term of four years, and bear interest at a rate of 9% per annum, payable semi-annually in U.S. dollars or Canadian dollars, as applicable, in arrears commencing Dec. 31, 2023.
- The bonds will be secured against a pool of the company's solar and energy storage development projects.
- The net proceeds from the offering will be used for the development of solar and energy storage projects.
- The closing is subject to an approval of the stock exchange.
For further details see:
UGE launches up to $5M private placement of green bonds