The placement attracted offers for more than US$58.9 million, which will allow the funds to be allocated to future solar projects. This success reinforces the market’s confidence in the company’s credit strength and environmental commitment.
Genneia, The leading company in renewable energy generation in Argentina, has reached a new milestone in the issuance of sustainable finance instruments. The company placed its 15th Green Negotiable Obligation (ON) for an amount equivalent to US$48.3 million, far exceeding its initial target of US$30 million. The placement attracted offers for more than US$58.9 million, which will allow the funds to be allocated to future solar projects. This success reinforces the market’s confidence in the company’s credit strength and environmental commitment.
The Negotiable Obligation (ON) hard dollar (MEP) Class XLVII, issued for an amount of US$48.3 million, offers a fixed coupon of 6.00%, with interest payable semiannually and maturity in October 2028. It was issued at a price of 100 %. This new instrument has an AA.ar rating from Moody’s Local, who highlights the company’s solid competitive position in the renewable energy market, highlighting financial flexibility, high profitability margins and stable cash flow generation. On the other hand, the new ON will join the Social, Green and Sustainable Bonds (SVS) panel of ByMA, the local stock exchange that brings together the main players in the capital market, being its fifteenth instrument with green labeling on the panel .
This operation is carried out under the coordination of Macro Securities as Organizer, while Macro Securities SAU, BACS Banco de Crédito y Securitización SA, Cocos Capital SA, Banco BBVA Argentina SA, Banco de la Provincia de Buenos Aires, Banco Hipotecario SA, Banco Mariva SA, Banco Patagonia SA, Banco Santander Argentina SA, Petrini Valores SA, Invertironline SAU, Banco Supervielle SA and PP Inversiones SA act as Placement Agents.
Genneia continues to strengthen its leadership in sustainable finance in the local and international market, having issued Negotiable Obligations for more than US$850 million in the local and international capital markets. Likewise, the company surpassed 1 GW of installed renewable capacity at the beginning of 2024, a notable milestone that consolidates its leadership in the sector and reinforces its commitment to good practices that contribute to the fight against climate change.
Source: Ambito
