News Release from PNE AG


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PNE AG: Coupon fixing at 5.000% for the new bond 2022/2027

Target volume of euro 50 million and a term of 5 years / Subscription opportunity expected to last until June 15 (2:00 p.m.) 2022 / Exchange offer to holders of the 2018/2023 bond and public offer / Coupon fixed at 5.000% (original coupon range from 4.500 to 5.250%) / Improving the financing structure and financing further growth

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At PNE AG, a leading international developer and operator of renewable energy power plants with a listing in the Prime Standard of the German Stock Exchange and soon to be member of the SDAX, the subscription period for the new corporate bond 2022/2027 (ISIN DE000A30VJW3) with a target volume of EUR 50 million (with an option to increase) and a five-year term started on June 7, 2022. Subscription is possible from a nominal value of EUR 1,000.00 until June 15, 2022, 2:00 p.m. (CEST) - subject to early closing - via banks and online brokers on the Frankfurt Stock Exchange.

In the marketing process, the bond has drawn great interest from existing and new investors. At the same time, the feedback from institutional investors in particular shows that the general interest rate environment has implications for yield requirements. Therefore, the issuer, in coordination with the Sole Lead Manager, set the coupon at 5.000% at an early stage.

The total nominal amount of the new 2022/2027 bonds is expected to be determined on June 15, 2022 based on the subscription orders received in the offer and will be published in a volume fixing announcement. A listing in the Open Market (Freiverkehr) of the Frankfurt Stock Exchange (Quotation Board) is planned for June 23, 2022.

2022/2027 bond key data

Issuer: PNE AG
Target volume: euro 50,000,000 (with option to increase)
Coupon: 5.000%
Issue price 100%
Denomination/units: euro 1,000
Period for exchange offer: May 23 to June 13, 2022 (10 a.m. CEST) subject to early closing
Period for multiple-purchase option: May 23 to June 13, 2022 (10 a.m. CEST) subject to early closing
Subscription period: June 7 to June 15, 2022 (2 p.m. CEST) subject to early closing
Value date: June 23, 2022
Term: 5 years
Repayment: at 100% of the nominal amount
Status: direct, unsecured and unsubordinated
Early repayment: issuer's call right after year 3 at 101% and after year 4 at 100.5% of the nominal amount, tax call, clean-up call
Covenants: change of control, third-party default, negative pledge for capital market liabilities, compliance with minimum equity ratio (adjusted for hidden reserves): <20% (coupon step-up by 0.50% points); for details, please see the bond terms
Stock exchange segment: open market of the Frankfurt Stock Exchange (Quotation Board)
Sole Lead Manager: IKB Deutsche Industriebank AG

Disclaimer: This media information does not constitute an offer of securities. Information on the new corporate bond 2022/2027 and the exchange offer is contained in the securities prospectus approved by the Commission de Surveillance du Secteur Financier ("CSSF"), which has been published on the website of PNE AG (https://ir.pne-ag.com/anleihen), the Frankfurt Stock Exchange (www.boerse-frankfurt.de) and the Luxembourg Stock Exchange (www.bourse.lu) after its approval. An investment decision regarding the corporate bond 2022/2027 and the exchange offer may only be made on the basis of the approved securities prospectus. The approval of the securities prospectus by the CSSF does not constitute an endorsement of the issuer and the quality of the corporate bond.

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PNE, coupon fixing, bond, target volume, stock market, shareholder, fincing structure, growth, corporate bond

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