PNE AG Launches New EUR 65 Million Corporate Bond to Refinance Existing Debt and Fund Growth
PNE AG issues a new corporate bond with a target volume of EUR 65 million and an attractive interest rate range of 6.750% to 7.750%, aiming to refinance its 2022/2027 bond early and optimize its financing structure to support its strategic growth.
PNE AG has announced the issuance of a new corporate bond with a target volume of up to EUR 65 million, continuing its strategic growth course and optimization of its financing structure. The bond, with a term from June 18, 2026, to June 18, 2031, will bear interest at a rate within a range of 6.750% to 7.750%, offering investors an attractive long-term return in the current market environment. The final interest rate is expected to be determined on June 11, 2026.
The issuance is being led by IKB Deutsche Industriebank AG as sole lead manager and bookrunner, and the bond is to be included in the open market (Freiverkehr) of the Frankfurt Stock Exchange. The offer is aimed at both institutional and retail investors in Germany, Austria, and Luxembourg, with the subscription period running from May 22 to June 10, 2026, via the PNE AG website, and from May 26 to June 11, 2026, via Deutsche Börse.
In addition, PNE AG is offering an exchange option for holders of its existing 2022/2027 bond. Bondholders who accept the voluntary exchange offer, expected to run from May 22 to June 9, 2026, will receive one new 2026/2031 bond for each exchanged bond, plus a cash settlement of EUR 12.50 per bond and any accrued interest. Participation will be facilitated via the respective custodian bank.
The primary purpose of this issuance is to refinance the existing 2022/2027 bond at an early stage and sustainably improve the maturity structure of its debt capital. “By issuing the bond, we are laying a solid foundation for realizing our growth opportunities,” said Heiko Wuttke, CEO of PNE AG. “It enables us to continue allocating funds to the development of our project pipeline as well as to the interim financing of projects. This sustainably strengthens our room for manoeuvre in implementing our Focus & Deliver strategy.”
The securities prospectus was approved by the Luxembourg financial supervisory authority, the Commission de Surveillance du Secteur Financier (CSSF), and is available for download on the PNE AG website and on the Luxembourg Stock Exchange website.
This marks the fourth bond issued by PNE AG over the past 13 years. As a listed company in the SDAX, PNE AG has an established capital market profile with high transparency and broad analyst coverage, as well as a long track record as a bond issuer. The combination of project sales and a growing own portfolio ensures continuously increasing stability and quality of earnings. Since the last bond issuance, EBITDA from power generation has increased significantly, underscoring the company's improved earnings quality.