Corporate bond issue reaches initial ?5m target

RNS Number : 4848Q

Good Energy Group PLC

15 October 2013

 



Good Energy Group plc

Good Energy Group's first corporate bond issue reaches initial £5m target

Good Energy Group plc ("Good Energy" or "the Group"), the AIM quoted renewable electricity supplier, is pleased to announce that it has received applications in excess of its initial target of £5 million following the launch of its corporate bond on 2 October 2013.

As previously announced, in the event of over-subscription beyond the initial target, Good Energy may choose to accept applications up to a maximum of £15 million for Good Energy Bonds. Applications for Good Energy Bonds will remain open until 13 November 2013*.

·      Good Energy Bonds offer investors a coupon of 7.25% per annum, paid half-yearly

·      In addition, Good Energy customers or generators investing in Good Energy Bonds will be paid at maturity the equivalent to 0.25% for each year of being a customer and a bondholder

·      Good Energy Bonds have an initial term of four years and are being issued by Good Energy Group plc

·      Good Energy Bonds also provide investors with a strong social return, as funds raised from the Good Energy Bonds will be invested directly in UK clean energy infrastructure

·      Investments can be made in multiplies of £500, with no maximum

·      Good Energy Bonds are an unsecured, unlisted and therefore non-transferable, debt of the Group

*Good Energy may bring this date forward if the maximum is exceeded.

Juliet Davenport, OBE, Founder and CEO of Good Energy, commented:

"We are delighted to have reached applications above our initial £5 million target, and to now have the opportunity to await further interest up to a total of £15 million . We remain on course to implement the development and build-out of our selected pipeline of UK renewable energy projects.  This supports our commitment to our growing customer base to help secure future electricity supply by investing in renewable generation."

Enquiries:

For more information in relation to the Good Energy Bonds please contact:

Victoria Geoghegan / Duncan Mayall / Elizabeth Snow [phone] 

N+1 Singer (Nominated Adviser and Broker)

Andrew Craig / Ben Wright Tel: [phone]

Notes to Editors

·      For more information on the Good Energy Bonds, please see goodenergy.co.uk/bond

·      Good Energy Group plc is quoted on the AIM market of the London Stock Exchange. For more information please visit: www.goodenergygroup.co.uk     

·      Good Energy is a licensed electricity supplier. It ensures that all their electricity is 100% matched with electricity sourced from renewable energy, backed by Renewable Energy Guarantee of Origin certificates (REGOs) over the course of 12 months. To compare the fuel mix of other suppliers please visit: www.electricityinfo.org/suppliers.php 

·      Good Energy has over 35,000 renewable electricity customers. In 2008, Good Energy added a Gas product to its range. It now has over 12,000 gas customers.

·      Good Energy provides services to a community of over 55,000 small and medium scale renewable electricity generators.

·      Good Energy is the owner of Delabole Wind Farm, the UK's first commercial wind farm. It has targeted the development of 110MW of capacity of new renewable electricity generation assets by 2016.

·      Good Energy is a founder member of Ethex and the Social Stock Exchange.

·      Good Energy has recently won a number of awards, including:

o  Good Energy has come top in the latest Which? Customer Satisfaction Survey for energy suppliers in 3 of the last 4 years.

o  Good Energy won the Company of the Year Award in the British Renewable Energy Awards 2013

o  In 2013, Good Energy was named best green electricity supplier by the  ethical and environmental magazine, Ethical Consumer.

 

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