Payom Solar closes energy bond with over subscription for over €27 million

Payom Solar advised that as of February 10, it had completed its energy bond issuing a volume of €27,548,000 in subscription. Finished ahead of schedule, the bond has a €1,000 denomination and holds a five-year maturity with an interest rate of 7.5%, due April 8. The company notes that the original subscription period was scheduled to March 20, but after talk about the future of FiTs, coupled with other developments in the solar market, no further subscriptions had been received.

“We are pleased with the result of the placement”, Claas Fierlings, CFO of Payom Solar, says, “the amount raised provides the company sufficient capital to finance future operations.”