Centrosolar Group is to issue a five-year bearer bond in Austria and Germany with a value of up to €50 million. The corporate bond will accrue interest at 7% per annum, and the securities prospectus required for the bond is expected to be approved by the Federal Financial Supervisory Authority (BAFin) on January 20, 2011.
From February 2, private and institutional investors will be able to subscribe to the bond through their bank or directly through Centrosolar. The company intends to include the bearer bond in over-the-counter trading at Stuttgart Stock Exchange. Further information on the offering is expected to be released next week.
The corporate bond is the latest initiative from Centrosolar to consolidate its position as one of the world’s leading suppliers of solar roof systems; plans are already underway for the expansion of its U.S. sales and international manufacturing divisions in 2011.