Renewable bond hits the market

Renewable energy developer Atlantis has launched a five-year bond to help fund its upcoming projects. Through Abundance Investment Limited’s green peer-to-peer investment platform, the bond offer seeks to raise a […]

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By Jonny Bairstow

Renewable energy developer Atlantis has launched a five-year bond to help fund its upcoming projects.

Through Abundance Investment Limited’s green peer-to-peer investment platform, the bond offer seeks to raise a minimum of £2 million and a maximum of £5 million.

These proceeds will be used to accelerate the development of opportunities such as the recently announced Uskmouth power station conversion and the Wyre tidal gateway project, to repay debts and to provide general working capital.

The bond matures in 2023 – it has a coupon of 8%, payable semi-annually and is expected to close in early 2018.

Tim Cornelius, CEO of Atlantis, said: “This bond offer represents a chance for ordinary investors to help Atlantis to grow and share in our future financial success.

“These bonds will help us achieve our ambition of becoming one of the largest and most diversified renewable energy companies on the London Stock Exchange.”

China’s green bonds grew in volume by 278% and 28% in value over the last year.