- UGE International (UGE) announced a brokered private placement of green bonds for gross proceeds of up to US$5,000,000
- The Green Bonds will be issued and payable in US dollars and Canadian dollars
- The Green Bonds will be secured against a pool of the company’s solar and energy storage development projects
- Net proceeds will be used for the development of solar and energy storage projects
- UGE develops, owns, and operates commercial and community solar projects in the US and abroad
- UGE International Ltd. (UGE) opened trading at C$1.70
UGE International (UGE) announced a brokered private placement of green bonds for gross proceeds of up to US$5,000,000.
The offering will be led by Canaccord Genuity Corp., on behalf of a syndicate of agents.
The Green Bonds will be denominated in US dollars and Canadian dollars. They will be issued, at the subscriber’s discretion, at a price of either US$955 per US$1,000 principal amount or C$955 per C$1000 principal amount. The Green Bonds will have a term of four years and bear interest at a rate of 9 per cent per annum, payable semi-annually in US dollars or Canadian dollars.
The Green Bonds will be secured against a pool of the company’s solar and energy storage development projects.
Net proceeds will be used for the development of solar and energy storage projects.
Computershare Trust Company of Canada will act as the trustee for the Green Bonds.
The Green Bonds will be subject to a four-month hold period. The company intends to seek to list the Green Bonds for trading on the TSX Venture Exchange following the four-month hold period.
UGE develops, owns, and operates commercial and community solar projects in the US and abroad.
UGE International Ltd. (UGE) opened trading at C$1.70.