INVESTOR RELATIONS
GREENCELLS GMBH
SAARBRÜCKEN
ANNOUNCEMENT
OF THE EARLY REDEMPTION (ISSUER CALL)
OF THE UP TO EUR 50,000,000 6.50 % BOND 2020/2025
(ISIN: DE000A289YQ5 / WKN: A289YQ)
(the “Bonds” or each individually a “Bond”)
Greencells GmbH, Saarbrücken (“Company“), is authorised pursuant to Section 6 (3) of the terms and conditions of the above Bond to terminate the Bonds with a notice period of not less than 30 and not more than 60 days to the holders of the Bonds and to redeem them early.
In accordance with Section 6 (3) of the Bond terms and conditions, the Company is exercising its right in this regard and hereby calls all outstanding Bonds in the total nominal amount of EUR 47.052.000 early with effect from 29 July 2024 (optional redemption date within the meaning of Section 6 (3) of the terms and conditions of the Bonds) at an early redemption amount of 102,00% of the nominal amount per Bond (optional redemption amount (call) within the meaning of Section 6 (3) of the terms and conditions of the Bonds) plus accrued and unpaid interest up to and including 28 July 2024.
The notice of termination was published on 28 June 2024 on the Company’s website (https://greencells.com/de/ir/) and in the Federal Gazette (Bundesanzeiger) in accordance with Section 6 (3) in conjunction with Section 14 (1) of the Bond terms and conditions.
The Bonds are represented in a global certificate deposited with Clearstream Banking AG (“Clearstream“). The early redemption amount will be credited and the Notes will be derecognised automatically via Clearstream and the custodian institutions. Holders of the Notes do not have to take any further action.
Saarbrücken, 28 June 2024
GREENCELLS GMBH
MANAGEMENT BOARD
Key data of the Green Bond 2020/2025
| Issuer | Greencells GmbH |
| Financial Instrument | Green Bond (classified by imug/SPO) |
| Initial volume | Up to EUR 25 million |
| Tap volume | Up to EUR 25 million |
| Total volume placed | EUR 47 million |
| ISIN/WKN | DE000A289YQ5/A289YQ |
| Coupon | 6.5% p.a. |
| Issue price | 100% |
| Denomination | EUR 1,000 |
| Value date | 9 December 2020 |
| Interest payment | Semi-annually in arrears on 9 June and 9 December of each year (first time in 2021) |
| Redemption date | 29 July 2024 |
| Redemption price | 102% |
| Status | Unsubordinated, secured |
| Security |
Besides, credit line of the sister company in favor of the issuer for up to at least 132.50% of the outstanding aggregate principal amount of the Notes until 31 December 2025. |
| Special termination rights of the Issuer |
|
| Termination rights of bondholders and covenants |
|
| Trustee | Schultze & Braun Vermögensverwaltungs- und Treuhandgesellschaft mbH |
| Applicable law | German law |
| Prospectus |
|
| Stock exchange segment | Quotation Board, Open Market Segment of the Frankfurt Stock Exchange |
| Financial advisor | DICAMA AG |
| Bookrunner | ICF BANK AG |
- 01.07.2024 – Greencells GmbH: Consolidated revenue grows to EUR 209.7 million in the fiscal year 2023; consolidated EBIT improves to EUR 8.3 million
- 28.06.2024 – Greencells GmbH calls its secured Green Bond 2020/2025 early as of 29 July 2024 at 102% of the nominal amount
- 09.01.2024 – Greencells GmbH is awarded EPC contract for the Electricity Supply Board’s (ESB) first solar park project in Ireland
- 31.10.2023 – Greencells GmbH doubles consolidated EBIT to EUR 5.6 million in the first half of 2023; full-year forecast expected to be exceeded
- 03.07.2023 – Greencells GmbH increases consolidated revenue by 42% to EUR 158.9m in 2022; consolidated EBIT significantly raised from EUR 0.2m to EUR 7.9m; revenue growth to over EUR 200m planned in 2023
- 25.04.2023 – Greencells sells 132 MW solar park in Hungary
- 30.03.2023 – Greencells: New independent expert opinion values approximately 18% of Greencells’ current development pipeline at EUR 87 million to EUR 126 million
- 13.02.2023 – Greencells Group successfully participates in flagship EPC project in Nigeria
- 21.12.2022 – Greencells: successful implementation of development pipeline with commissioning of 65 MWp solar park in Hungary
- 31.10.2022 – Greencells GmbH grows significantly in the first half of 2022 and lays the foundation for accelerated earnings and cashflow realization
- 06.10.2022 – Greencells: substantial value increase of development pipeline and dynamic growth of EPC and O&M business
- 04.08.2022 – Greencells GmbH: Götz Gollan strengthens the Management as CFO
- 30.06.2022 – Greencells GmbH achieves significant sales and earnings growth in fiscal year 2021
- 25.05.2022 – Greencells Group sells 10 MW solar park in the Netherlands to Blue Elephant Energy
- 12.05.2022 – Greencells GmbH: Murphy&Spitz Nachhaltige Vermögensverwaltung AG participates in increase of the secured 6.5% Green Bond 2020/2025
- 08.04.2022 – Greencells significantly expands development pipeline in Canada to 1.3 GWp –
Sale of 75% stake in 200 MWp project underway - 28.03.2022 – Greencells Group: Sale of ready-to-build projects expected to generate net cash inflows of well over EUR 25 million in 2022
- 01.03.2022 – Greencells plans consistent expansion of market leadership in Hungary / Commissioning of 65 MWp solar park scheduled for October 2022
- 07.02.2022 – Greencells further expands development portfolio in Italy: Acquisition of five photovoltaic projects with a total capacity of 233 MWp
- 12.01.2022 – Greencells project development portfolio in Greece to grow to around 600 MWp in the first half of 2022
- 17.11.2021 – Greencells GmbH: Value of photovoltaic projects in European target markets increased significantly according to new market value expert opinion
- 11.11.2021 – Greencells secures two major projects in Poland with a total capacity of 195 MWp
- 02.11.2021 – Greencells GmbH Group increases revenue and earnings in the first half of 2021
- 05.07.2021 – Greencells GmbH Group shows resilience in the financial year 2020 and continues to operate profitably
- 31.05.2021 – Greencells bolsters business with EUR 7.5 million credit line for projects from Euler Hermes, braves COVID-19 uncertainty
- 23.04.2021 – Announcement of a change of paying agent to 01.07.2021
- 22.04.2021 – Greencells GmbH: successful full placement of secured 6.5% Green Bond 2020/2025; new joint venture in Italy to develop 350 MWp agrisolar
- 21.01.2021 – Greencells Group signs joint development agreement for 237 MWp Solar in Italy and the Netherlands with Blue Elephant Energy
- 05.01.2021 – Solar construction 4.0 – Greencells develops Augmented Reality solution for use on worksites
- 17.12.2020 – Greencells GmbH expands EPC partnership with Kronos Solar Projects GmbH in the Netherlands to 75 MWp for 2021
- 08.12.2020 – Greencells GmbH successfully places first tranche of the secured Green Bond with a volume of EUR 15 million
- 01.12.2020 – Greencells GmbH: successful completion of three solar projects in the Netherlands with a total capacity of around 152 MWp
- 13.11.2020 – Greencells GmbH issues secured Green Bond in the volume of up to EUR 25 million with 6.5% interest coupon and a term of 5 years
- 26.04.2024, 2:30pm – Greencells GmbH plans early termination and redemption of the secured Green Bond 2020/2025 at 102% of the nominal amount, probably in the second quarter of 2024102% of the nominal amount, probably in the second quarter of 2024
- 03.11.2021, 5:45 pm – Greencells GmbH resolves to increase the secured 6.5% Green Bond 2020/2025 by up to EUR 25 million to up to EUR 50 million
CONTINUOUS REPORTING
- Review of Green Bond reporting by imug | rating – fiscal year 2023 (07/2024)
- Fund usage report of the secured Greencells Green Bond 2020/2025 – fiscal year 2023 (06/2024)
- Review of Green Bond reporting by imug | rating – fiscal year 2022 (06/2023)
- Fund usage report of the secured Greencells Green Bond 2020/2025 – fiscal year 2022 (05/2023)
- Updated Second Party Opinion imug | rating (04/2023)
- Updated Framework for Green Bond of Greencells GmbH (04/2023)
- Review of the Greencells project evaluations by Apricum GmbH 22. December 2022 (03/2023)
- Review of Green Bond reporting by imug | rating – fiscal year 2021 (08/2022)
- Fund usage report of the secured Greencells Green Bond 2020/2025 – fiscal year 2021 (06/2022)
- Review of the Greencells project evaluations by Apricum GmbH 17. November 2021 (11/2021)
FINANCIAL REPORTS
- Consolidated financial statements 2023 (06/2024)
- Annual financial statements 2023 (06/2024)
- Consolidated half-year report 2023 (10/2023)
- Consolidated financial statements 2022 (06/2023)
- Annual financial statements 2022 (06/2023)
- Consolidated half-year report 2022 (10/2022)
- Consolidated financial statement 2021 (06/2022)
- Annual financial statements 2021 (06/2022)
- Consolidated half-year report 2021 (10/2021)
- Consolidated financial statements 2020 (06/2021)
- Annual financial statements 2020 (06/2021)
- Consolidated half-year report 2020 (11/2020)
- Consolidated financial statements 2019 (10/2020)
- Annual financial statements 2019 (07/2020)
- Annual financial statements 2018 (03/2019)
EMISSION DOCUMENTS
- Prospectus (12/2020)
- Summary of the prospectus (12/2020)
- Supplement No. 1 of 2 December 2020 to the Prospectus (12/2020)
- Terms and conditions of the bonds (11/2020)
- Articles of association (07/2018)
- Framework for Green Bond of Greencells GmbH (11/2020)
- Review of the Greencells project evaluations by Apricum GmbH 12 November 2020 (11/2020)
- Second Party Opinion imug | rating (11/2020)
- SMC Research study (11/2020)
| 9 June 2024: | Interest payment for the Green Bond 2020/2025 |
| June 2024: | Consolidated financial statements 2023 |
| October 2024: | Consolidated half-year report 2024 |
| 9 December 2024: | Interest payment for the Green Bond 2020/2025 |
Greencells GmbH
Alexandra Roger-Machart
+49 (0)681 992 669 10
ir(at)greencells.com
Better Orange IR & HV AG
Frank Ostermair, Linh Chung
+49 (0) 89 889 690 625
frank.ostermair(at)better-orange.de
