Chicago, Feb. 7 – RE Royalties Ltd. privately placed 9% five-year green bonds, according to a press release.
The company placed C$6,599,000 of green bonds and an additional $255,000 of green bonds.
The company also closed on its previously announced public offering of C$5,115,000 series 3 green bonds. Together, the company has sold C$11,714,000 and $272,000 of bonds.
In connection with the initial closing of the private placement, the company has paid a corporate advisory fee to certain parties consisting of C$461,930 and $17,850 in cash, and the issuance of 319,853 warrants. Each warrant will entitle the holder thereof to acquire one common share of the company at an exercise price equal to $0.75 for a period of 36 months from the date of the initial closing.
Proceeds from the non-brokered private placement will be used to acquire revenue-based royalties and/or provide loans to privately held and publicly traded renewable energy companies.
The issuer caters to socially conscious investors and helps to build renewable energy projects faster through innovative financing. The company is based in Vancouver, B.C.
| Issuer: | RE Royalties Ltd.
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| Amount: | C$6,599,000 and $255,000
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| Issue: | Series 3 secured green bonds
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| Maturity: | Jan. 30, 2028
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| Trustee: | Western Pacific Trust Co.
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| Coupon: | 9%
|
| Price: | Par
|
| Yield: | 9%
|
| Announcement date: | Feb. 6
|
| Settlement date: | Feb. 27
|
| Distribution: | Private placement
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