Business
Launch of Bond
Launch of Bond.
About this update from Ampeak Energy Limited
[{"type":"text","content":"\n \nRNS Number : 9749H SIMEC Atlantis Energy Limited 06 August 2019 \n\n06 August 2019\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR IN OR INTO ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE RESTRICTED BY ANY APPLICABLE LAW.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT FORM PART OF AN OFFER TO SELL OR ISSUE OR A SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE, ANY SECURITIES IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL. \nSIMEC Atlantis Energy Limited\n(\"Atlantis\" or the \"Company\")\n Launch of Bond \n \nSIMEC Atlantis Energy, the global developer, owner and operator of sustainable energy projects, is pleased to announce the formal launch, through Abundance Investment Limited, the provider of a regulated ethical peer-to-peer investment platform, of a proposed five-year bond offer maturing 2024. The bond has a coupon of 8%, payable semi-annually. The bond offer seeks to raise a maximum of £7 million, with no minimum threshold. The offer is expected to close on or before 31 October 2019, and this date may be extended by up to 3 months at the Company's discretion. \n \nSubject to completion of the bond offer, the proceeds of the issue will be used to progress and accelerate the development of opportunities in the Atlantis project pipeline, including funding the remaining development activities for the Uskmouth power station conversion project and consenting and engineering studies for the proposed Raz Blanchard tidal power project, and to provide general working capital to be used in the development of the Atlantis group's business and project portfolio. The issuing entity is a wholly owned UK based subsidiary of the Company, and the bonds, which are unsecured, will benefit from a parent company guarantee from Atlantis. The bonds will have substantially the same terms as the £5 million 8% bonds due 2022 and the £5 million 8% bonds due 2023 issued, respectively, via the Abundance platform in July 2017 and in 2018.\n \nTim Cornelius, CEO, SIMEC Atlantis Energy Limited, said:\n \n\"As we crea...