Orix points EUR-300m inexperienced bond to fund Elawan acquisition

April 14 (Renewables Now) – Japanese monetary providers group Orix Company (TYO:8591) mentioned on Thursday that it’s issuing inexperienced bonds for a complete quantity of EUR 300 million (USD 327.2m) to pay for the prices of buying the bulk shareholding in Spanish wind and photo voltaic developer Elawan Vitality SL.

Final summer season, Orix acquired an 80% stake in Elawan, a agency that was described on the time as having a improvement pipeline with over 10 GW of tasks and a gigawatt-scale monitor document. The transaction was closed for an undisclosed sum.

Orix will search to position its first inexperienced notes with institutional buyers in abroad markets similar to Europe and Asia. The rate of interest on the bond is 1.919% per yr, and the notes mature in April 2026, the corporate mentioned.

Elawan’s work within the renewables house makes it an eligible enterprise space that meets standards outlined in Orix’s inexperienced bond framework, the Japanese firm added.

(EUR 1.0 = USD 1.091)

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