PNE WIND AG places convertible loan and capital increase and financial investor Luxempart S.A. invests (Germany)

The wind farm developer PNE WIND AG (ISIN: DE000A0JBPG2) has successfully completed the capital measures required for the financing of further growth. In detail, a capital increase of 1,249,500 new shares was placed from authorised capital at a purchasing price of € 2.00 per share certificate. In addition, a convertible loan was offered that was drawn at a volume of € 26m.

Due to the completely placed capital increase and the mostly placed convertible bond a total of around € 28.5m (gross) is flowing into the company. The capital stock of PNE WIND AG is increasing at the same time to € 45,774,466.00.

The new shares and the convertible loan were offered with a subscription right to the existing shareholders of the company. Shares not purchased by these shareholders were offered to Luxempart S.A.. According to a contractual agreement, this financial investor based in Luxemburg had declared itself willing to acquire shares from the capital increase that had not been purchased by the shareholders as well as partial debentures not purchased by shareholders to a certain degree. In the course of the capital increase, Luxempart S.A. has now taken over a total of 927,114 of the new shares. In addition to this, partial debentures of the convertible loan to the amount of approximately € 16.87m were bought by the holding company. The total investment volume of Luxempart S.A. thus amounts to € 18.7m.

With the financial resources that have flowed into the company in the framework of the two capital measures, PNE WIND AG plans the further expansion of operational business. It is in particular intended to drive forward the development and project planning of wind farms on the high seas (offshore) and abroad.

The transaction was supported by Close Brothers Seydler Bank AG, Frankfurt am Main, as the sole lead manager and sole book-runner and by VEM Aktienbank AG, Munich, as the central settlement centre.


Source: pnewind, June 14, 2010;