Good Energy Surpasses Bond Expectations
Good Energy Group, the AIM quoted renewable electricity supplier, has announced that it has received applications in excess of its initial target of £5 million following the launch of its corporate bond on 2 October 2013.
As previously announced, in the event of over-subscription beyond the initial target, Good Energy may choose to accept applications up to a maximum of £15 million for Good Energy Bonds. Applications for Good Energy Bonds will remain open until 13 November 2013.
"¢ Good Energy Bonds offer investors a coupon of 7.25% per annum, paid half-yearly
"¢ In addition, Good Energy customers or generators investing in Good Energy Bonds will be paid at maturity the equivalent to 0.25% for each year of being a customer and a bondholder
"¢ Good Energy Bonds have an initial term of four years and are being issued by Good Energy Group plc
"¢ Good Energy Bonds also provide investors with a strong social return, as funds raised from the Good Energy Bonds will be invested directly in UK clean energy infrastructure
"¢ Investments can be made in multiplies of £500, with no maximum
"¢ Good Energy Bonds are an unsecured, unlisted and therefore non-transferable, debt of the Group
Juliet Davenport, OBE, Founder and CEO of Good Energy, commented, "We are delighted to have reached applications above our initial £5 million target, and to now have the opportunity to await further interest up to a total of £15 million . We remain on course to implement the development and build-out of our selected pipeline of UK renewable energy projects. This supports our commitment to our growing customer base to help secure future electricity supply by investing in renewable generation."
