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The Argentine energy company 360Energy has announced that it has obtained 80 million dollars to finance the construction of the 94 MWp La Rioja II photovoltaic park, located in Nonogasta, La Rioja province. This is an operation of the so-called green bonds, the companys second in the last nine months.
In a statement, it is reported from 360Energy that it proposed to raise 60 million dollars and received offers for more than 93 million of the same coin. The announcement of this action was made this week .
The company claims to have achieved its goal by placing Class 2 and Class 3 Negotiable Obligations in the two planned tranches: “20 million dollars bullet at 24 months at an annual rate of 0% in the short tranche, and 60 million dollars at a 5% annual rate in the long 108-month tranche. The apportionments were approximately 84% and 95% respectively” the information clarifies.
It is added that "the negotiable obligations issued are aligned with the four main components of the green bond principles of the ICMA -International Association of Capital Markets-, for this reason Fix, an affiliate of Fitch Ratings, classified the ONs of 360Energy as BONO VERDE BV1 (the highest rating in Argentina) and risk A.”
The director of 360Energy, Federico Sbarbi Osuna, assured: "We are proud to be able to count on local financing that allows us to consolidate our growth plan, consolidating ourselves as a relevant actor in the energy transition in our country."
The operation was carried out with the participation of Banco Itaú Argentina as organizer, and a consortium of underwriters made up of: Itaú Valores; Balance Capital Securities; Services and Transactions Bank; Invest in Stock Market; PP Investments; Bacs Bank of Credit and Securitization; and Mortgage Bank.
Construction of the La Rioja II photovoltaic park is scheduled to begin this year. 360energy currently has five solar parks in operation in the provinces of San Juan, La Rioja and Catamarca with a capacity of more than 100 MWp. |
