15th Oct 2013 10:22
LONDON (Alliance News) - Good Energy Group PLC Tuesday said its first corporate bond issue has reached its initial target of GBP5 million.
The AIM-quoted UK-based renewable energy technology company said it has received applications in excess of the target figure following the corporate bond launch on October 2
The company said previously that the bond would offer investors a coupon of 7.35% per year to be paid half yearly and if the offer is oversubscribed it could be increased to a maximum of GBP15 million.
Good Energy has decided to keep the bond subscription process open until November 13.
The company said that cash raised by the bonds would be invested in increasing the company's own solar and wind generating capacity as it targets developing 110 megawatts of its own renewable energy by 2016.
Good energy shares were down 5.6% to 169.40 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
Good Enrg