PNE AG has announced the issuance of a new corporate bond with a target volume of EUR 65 million and a five-year term, aimed at refinancing its existing 2022/2027 bond and optimizing its financing structure. The move underscores the company's commitment to its strategic growth trajectory and the implementation of its Focus & Deliver strategy.
The bond, which will mature on 18 June 2031, carries an interest rate within a range of 6.750% to 7.750%, with the final rate expected to be set on 11 June 2026. Each note has a nominal value of EUR 1,000. The issuance is being managed by IKB Deutsche Industriebank AG as sole lead manager and bookrunner, and will be listed on the open market of the Frankfurt Stock Exchange.
This bond offering is significant for investors seeking attractive long-term returns in the current market environment. The subscription period runs from 22 May 2026 to 10 June 2026 via the PNE AG website, and from 26 May 2026 to 11 June 2026 via Deutsche Börse, subject to early closing. It is open to both institutional and retail investors in Germany, Austria, and Luxembourg.
In addition to the public offering, PNE AG is offering a voluntary exchange for holders of its existing 2022/2027 bond. Bondholders who accept the exchange will receive one new 2026/2031 bond (ISIN: DE000A460J75) for each bond exchanged, plus a cash settlement of EUR 12.50 per bond and any accrued interest. The exchange period is expected to run from 22 May to 9 June 2026.
The primary purpose of the new bond is to refinance the existing 2022/2027 bond at an early stage, improving the maturity structure of the company's debt capital. PNE AG CEO Heiko Wuttke stated, "By issuing the bond, we are laying a solid foundation for realizing our growth opportunities. 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. Bonds have been firmly established as a building block of our well-diversified bank and capital market financing structure since 2013."
This issuance marks the fourth bond from PNE AG in the past 13 years, reflecting its experience as a bond issuer and its established capital market profile as an SDAX-listed company. The company has improved its earnings quality since the last bond, with a significant increase in EBITDA from power generation, driven by a combination of project sales and a growing own portfolio.
The securities prospectus has been approved by the Luxembourg financial supervisory authority (CSSF) and is available for download on the PNE AG website and on the Luxembourg Stock Exchange website.
For investors and the renewable energy sector, this bond issuance signals PNE AG's continued focus on growth and financial stability, enabling the company to advance its project pipeline and interim financing for wind and solar projects worldwide.
