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Pfaffenschlag, September 25, 2018.
The latest issue of corporate bonds by WEB Windenergie AG, Austria’s wind power pioneer founded in 1994, was highly successful once again. W.E.B had already become the industry’s trailblazer in financing by issuing the country’s very first wind power bond in 2010. After further successful bond issues in 2011 and 2013, company established Austria’s first hybrid wind power bond in 2014, followed by three more corporate bonds in 2016. In 2018, W.E.B issued another set of two Green Power bonds, generating a total of EUR 15,087,000 in the course of a six-week subscription period. Aside from a conventional bond with a maturity period of ten years, W.E.B issued the next subordinated hybrid bond without maturity date. The company as once again able to come up with a novelty: these two products are the first corporate bonds for private investors traded on the platform “Green und Social Bonds” – founded in 2018 and specialized on sustainable investments – of the Vienna Stock Exchange.
As W.E.B CFO Michael Trcka explains, “We are extremely pleased with the outcome of the latest bond issue. It proves once more that people believe in our concept and are attracted by our offer of financially participating in the energy transition. W.E.B is showing great progress – also thanks to the resources generated by the latest bond issue – in the implementation of our growth strategy. Particularly positive was the exceptional success of our last hybrid bond, which made up about two thirds of the entire subscription volume – certainly a new record.
Unrivaled in Austria, this type of green investment offers an attractive interest rate and has been successfully tried and tested in 2014, 2015, and 2016. It highlights the innovative force of W.E.B even in the field of financing. Another milestone on our path to success is the first-time use of the platform ‘Green und Social Bonds’ for our bond issue.”
The proceeds of the bond issue will provide the financing for ongoing power plant projects of W.E.B, which continues on its path as an internationally successful energy transition company and, therefore, keeps expanding its production capacity. In mid-2018, W.E.B was operating 233 wind power plants, 21 photovoltaic systems, and three hydroelectric power plants in seven countries in Europe and North America. The first wind turbines in the United States, the company’s seventh market, were commissioned in early 2017. W.E.B currently boasts a total production capacity of 438 MW, generating green electricity for 680,000 people. As W.E.B CEO Frank Dumeier attests, “As a citizen participation company, we strive to have as many people as possible participating in the implementation of the decentralized energy transition. Green Power bonds enable us to carry on with our strategy of moderate international growth. After all, the dynamically proceeding changes of the energy sector will continue to present us with great potential for growth in our core business.”
2.25% bond, ten-year maturity, annual partial repayment
4.5% hybrid bond