Midsummer issues its first Green Bond
[Stockholm, Sweden, April 12, 2019.] The leading developer and supplier of advanced solar energy technology solutions Midsummer AB (publ) ("Midsummer") issues its first Green Bond.
The Green Bond of SEK 200m with a four year tenor has a floating rate coupon of STIBOR 3 months + 8.5% and will be issued under a SEK 500m framework. The Green Bond is intended to be listed on Nasdaq Stockholm Sustainable Bond List.
"By issuing our first Green Bond, we will be able to capitalize on our strong business momentum. During the road show we have met bond investors across the Nordics and we are encouraged by the strong interest for our strategy, business model and the interest to financially support Midsummer's continued efforts to further strengthen our leading position within the rapidly growing market for light weight thin film solar cells", said Midsummer's CEO Sven Lindström.
Midsummer has a clear sustainability profile and sustainability is a natural and integrated part of the company's business. The proceeds from the Green Bond will be used to finance (i) production and distribution of solar panels and solar cells; (ii) production of solar panel manufacturing equipment; and (iii) research and development of solar panels, solar cells and solar panel manufacturing equipment.
Midsummer's Green Framework has been drawn up in accordance with ICMA's Green Bond Guidelines and was examined by Sustainalytics.
DNB Markets and Nordea have acted as joint structuring advisors for the Green Bond Framework and joint bookrunners for the transaction. Mannheimer Swartling acted as legal counsel.
For photos of thin film CIGS solar cells and the Midsummer manufacturing equipment, please go to http://midsummer.se/press/media-gallery or contact Mr Lindström.
For additional information please contact:
Sven Lindström
CEO, Midsummer AB
Email: sven.lindstrom@midsummer.se
Phone: +46 (0) 8 525 09 610
About Midsummer
Midsummer is a leading developer and supplier of advanced solar energy technology solutions for the production and installation of thin film solar panels. Its business offering includes equipment for cost-effective manufacturing of thin film solar cells as well as building-integrated photovoltaic (BIPV) solutions for the application of thin film solar cells on buildings (facades, roofs etc.). Midsummer's thin film solar modules are light, flexible, durable and highly efficient and therefore ideal for distributed renewable energy projects. Midsummer's proprietary technology is based on a rapid process for the production of flexible thin film solar cells using sputtering of all layers of the solar cell. The Company's share (MIDS) is traded on Nasdaq First North Stockholm with G & W Fondkommission as Certified Adviser, phone: +46 (0)8-503 000 50, email: ca@gwkapital.se. For more information, please visit: www.midsummer.se
IMPORTANT INFORMATION
This information is information that Midsummer AB (publ) is obliged to disclose under the EU Market Abuse Regulation. The information was provided, through the contact of the above contact person, for publication at 08:30 CET on April 12 2019.
