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RE Royalties Announces Private Placement of up to $10 Million of Series 2 Green Bonds
All amounts in Canadian dollars unless otherwise stated NOT FOR DISTRIBUTION TO U.S. NE...
About this update from Re Royalties Ltd.
[{"type":"text","content":"RE Royalties Announces Private Placement of up to $10 Million of Series 2 Green BondsAll amounts in Canadian dollars unless otherwise statedNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / December 14, 2021 / RE Royalties Ltd. (TSXV:RE) (\"RE Royalties\" or the \"Company\"), a global leader in renewable energy royalty-based financing, is pleased to announce a brokered \"best efforts\" private placement of green bonds (the \"Green Bonds\"), for gross proceeds of up to $10,000,000 (the \"Offering\"). The Green Bonds will be offered in the principal amounts of $1,000 or US$1,000. The Offering will be led by Canaccord Genuity Corp, as lead agent.The Green Bonds will have a term of five (5) years and bear interest at a rate of 6% per annum, payable quarterly, and will be senior obligations of the Company secured against the Company's portfolio of royalty and loan investments.Net proceeds from the Offering will be utilized to finance or re-finance renewable and sustainable energy projects that will reduce or offset green house gas emissions and assist in mitigating the impact of climate change. The Company has prepared a Green Bond Framework that is aligned with the International Capital Market Association Green Bond Principles (2018), which framework is available on the Company's website, here.This Offering is RE Royalties second Green Bond financing, following the 2020 inaugural offering of $10.2 million. The second Green Bonds will be designated as Series 2, and issued under the existing Green Bond trust indenture dated August 10, 2020 and filed on SEDAR.\"Our second Green Bond offering marks a major milestone in the growth of our company and will benefit our investors, clients and the environment,\" said Bernard Tan, Chief Executive Officer at RE Royalties. \"Our team has been reviewing a number of prospective transactions and we expect that we will be able to deploy the capital from this Green Bond offering towards financing renewable and sustainable energy projects that will strengthen and build a more resilient future.\"This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction, nor shall there be any offer or sale of the securities in any jurisdiction in which such offer, solicitation or sa...