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RE Royalties Announces Initial Closing of Private Placement of Series 3 Secured Green Bonds
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES VANC...
About this update from Re Royalties Ltd.
[{"type":"text","content":"RE Royalties Announces Initial Closing of Private Placement of Series 3 Secured Green BondsNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / February 6, 2023 / RE Royalties Ltd. (TSXV:RE)(OTCQX:RROYF) (\"RE Royalties\" or the \"Company\"),a global leader in renewable energy royalty-based financing, is pleased to announce the successful initial closing (the \"Initial Closing\") of its non-brokered private placement offering (the \"Private Placement\") of Series 3 senior secured green bonds of the Company (the \"Green Bonds\"), as previously announced on January 27, 2023.Pursuant to the Initial Closing, the Company issued 6,599 Canadian dollar denominated Green Bonds, with a principal amount of C$1,000 per Green Bond for aggregate gross proceeds of C$6,599,000 and 255 United States dollar denominated Green Bonds, with a principal amount of USD$1,000 per Green Bond for aggregate gross proceeds of US$255,000.Along with the successful initial closing of its public offering of Series 3 senior secured green bonds, as previously announced on January 30, 2023, the Company has issued an aggregate of 11,714 Canadian dollar denominated Green Bonds, with a principal amount of C$1,000 per Green Bond for aggregate gross proceeds of C$11,714,000 and 272 United States dollar denominated Green Bonds, with a principal amount of USD$1,000 per Green Bond for aggregate gross proceeds of US$272,000.The Green Bonds will have a maturity date of January 30, 2028 and bear interest at a rate of 9% per annum, payable quarterly, and will be senior obligations of the Company secured against the Company's portfolio of royalty and loan investments. The Green Bonds were issued under a supplemental trust indenture dated January 30, 2023 (the \"Supplemental Indenture\") to the Company's existing green bond trust indenture (the \"Indenture\") dated August 10, 2020 with Western Pacific Trust Company, as trustee. A copy of the Indenture and the Supplemental Indenture are available on the Company's SEDAR profile at www.sedar.com.Net proceeds from the Green Bonds will be utilized to acquire revenue-based royalties and/or provide loans to privately held and publicly traded renewable energy companies. The Company has adopted a Green Bond Framework that is aligned with the International Capital Market Asso...