5th Feb 2020 16:59
(Alliance News) - SIMEC Atlantis Energy Ltd on Wednesday said it has raised GBP3.8 million via a bond offering to further the delivery of its portfolio of renewable and sustainable energy projects.
The sustainable energy firm said the five-year bond, offered through Abundance Investment Ltd, has a coupon of 8% - payable semi-annually - and matures in 2024.
"We are committed to providing solutions for the transition to a low carbon economy across our marine, end-of-waste and hydro project. The proceeds will be deployed to further the successful delivery of our world leading portfolio of renewable and sustainable energy projects, such as the Uskmouth power station conversion in Newport, Wales, " said SIMEC Chief Executive Tim Cornelius.
The stock closed flat at 10.75 pence each on Wednesday in London.
By Ife Taiwo; [email protected]
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