Frankfurt/Main – hep solar projects GmbH is offering a Green Bond 2023/2028 with a total volume of up to EUR 30 million as part of a public offering in Luxembourg, Germany and Austria. The security carries an interest rate of 8% p.a. over its five-year term. hep solar projects GmbH is a wholly owned subsidiary of hep global GmbH, a specialist in solar parks and solar investments which is headquartered in Güglingen (Baden-Württemberg). The offer period started on 6 October 2023 and will end on 2 October 2024 unless the issuer terminates the offer prior to that date due to it being fully subscribed. The proceeds from the issue are earmarked for refinancing the project development of photovoltaic projects by companies in the hep global Group in Europe, the US, Canada and Japan.
The securities qualify as green bonds, with sustainability rating agency imug rating confirming that the framework for the bonds issued by hep solar projects GmbH complies with the 2021 Green Bond Principles of the International Capital Market Association (ICMA). Lewisfield Deutschland GmbH acted as financial advisor on the issue.
A CMS team headed by lead partner Philipp Melzer advised the company on all legal aspects of preparing and structuring the public offering of the Green Bond 2023/2028. The securities prospectus prepared by CMS was approved by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg and notified to the German and Austrian supervisory authorities. This is one of the first green bonds to comply with the sustainability-related information requirements published by ESMA on 11 July 2023.
Established in Germany in 2008, hep is a global solar specialist and solar investment manager focusing on industrial and commercial solar projects in North America, Europe and Asia. It offers end-to-end solar solutions and handles the entire development, financing, construction and operating process for greenfield projects. As a licensed investment management company, hep also has a fully regulated fund administration function.
CMS Germany
Philipp Melzer, Lead Partner
Patrick Damanik, Senior Associate, both Banking & Finance
CMS Austria
Philipp Mark, Partner, Banking & Finance
Press Contact
presse@cms-hs.com
