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RE Royalties Announces Initial Closing of Private Placement of Series 4 Secured Green Bonds
All amounts in Canadian dollars unless otherwise stated NOT FOR DISTRIBUTION TO U.S. NEWSWIR...
About this update from Re Royalties Ltd.
[{"type":"text","content":"RE Royalties Announces Initial Closing of Private Placement of Series 4 Secured Green Bonds All amounts in Canadian dollars unless otherwise statedNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / August 29, 2024 / RE Royalties Ltd. (TSX.V: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 marketed private placement offering (the \"Private Placement\") of the Series 4 senior secured green bonds of the Company (the \"Green Bonds\"), as previously announced on July 4, 2024.Pursuant to the Initial Closing, the Company issued 3,804 Canadian dollar denominated Green Bonds, with a principal amount of $1,000 per Green Bond for aggregate gross proceeds of $3,804,000 and 50 United States dollar (US$) denominated Green Bonds, with a principal amount of US$1,000 per Green Bond for aggregate gross proceeds of US$50,000.In conjunction with the Initial Closing, the Company also issued, pursuant to a non-brokered private placement (the \"Non Brokered Private Placement\"), 350 Canadian dollar denominated Green Bonds, with a principal amount of $1,000 per Green Bond for aggregate gross proceeds of $350,000 and 150 United States dollar (US$) denominated Green Bonds, with a principal amount of US$1,000 per Green Bond for aggregate gross proceeds of US$150,000.The Green Bonds will have a term of five years 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 August 29, 2024 (the \"Supplemental Indenture\") to the Company's existing green bond trust indenture (the \"Indenture\") dated August 10, 2020, as amended, 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.sedarplus.com.Net proceeds from the Green Bonds will be utilized to finance or re-finance renewable and sustainable energy projects that are anticipated to reduce or offset green house gas emissions and assist in mitigating the impact of climate change. The Company has prepa...