Aligera Holding AB, a Swedish renewable energy firm started in 2009, says it has issued a bond worth SEK100m (€11m) for the sake of acquiring onshore wind power plants in Sweden – the latest installment of a broader SEK500m programme.
In a statement, Aligera said the bonds would mature on May 7 2019. The sole bookrunner for the bond was Nordic Fixed Income, a Swedish brokerage and asset management firm that is owned by financial advisory and asset management firm Catella.
Aligera’s latest debt issue is part of a larger green bond programme worth SEK500m. Its first issue took place last April and had a volume of SEK300m. The coupon, or interest rate, for all Aligera green bonds was put at 500 basis points above three-month STIBOR. STIBOR is the rate at which Swedish banks lend to each other.
Said Jorgen Bender, Aligera’s President: “We are issuing additional corporate bonds to enable Aligera’s growth strategy. Despite a rather challenging market currently, we think that the issue has been well received.” Buyers were not disclosed.
Aligera also said that with the proceeds from the sales, it would only invest in operational wind parks in Sweden to avoid project risks. As of last April, the firm had seven parks in its portfolio.Gothenburg-based Aligera is not the only Swedish green bond issuer. Wind park developer Arise AB has also been active in the market.
Meanwhile, Murphy & Spitz Green Energy (M&S GE), a German renewable energy firm that produces 5.3MW of capacity, has issued its second bond to finance the acquisition of additional wind and solar projects in Europe.
With the bond, which has a maturity of seven years and a coupon, or interest rate, of 5.75%, M&S GE said it had raised €1m, adding that roughly half of that came from two investment funds. The bond is unrated and is now trading on the Düsseldorf bourse.
It’s M&S GE’s second “green bond” in four years. In September 2010, the Bonn-based firm €2.5m from investors with a five-year bond that offered a coupon of 6.2%. Proceeds from both transactions have gone to finance acquisitions of solar parks in Italy, Germany, the Czech Republic and Slovakia as well as onshore wind parks in Germany. The firm’s total investments in renewable energy are €14.4m.
M&S GE is just one of two subsidiaries tied to a holding company called Murphy & Spitz Green Capital (M&S GC). The other subsidiary is an asset management firm specialising in renewables called Murphy & Spitz Nachhaltige Vermögensverwaltung (M&S NVV).