Prodea drained 300 million euros from the markets on Friday with a floated “Green” bond issue over-subscribed by 1.85 times, and with the yield reaching 2.3 percent.
Total demand by investors reached 554.243 million euros.
An announcement by the book-runners of the public issue noted: “…following the completion of the Public Offer on 16.07.2021, announce … that 300,000 dematerialized common, bearer bonds of the Company with a nominal value of €1,000 each have been placed and as a result funds of €300 mil have been raised. Total valid demand from investors that participated in the Public Offer was €554.243 mil, resulting in over-subscription of the Issue by 1.85 times. The offer price of the Bonds is at par, namely €1,000 each. Final yield has been set at 2.30% and Bonds’ interest rate at 2.30% per annum. The Bonds were allocated as follows: a) 196,500 Bonds (65.5% of the total number of Bonds to be issued) were allocated to Retail Investors and b) 103,500 Bonds (34.5% of the total number of Bonds to be issued) were allocated to Professional Investors.”
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