Reinecke + Pohl Sun Energy plans to issue up to €30 million of convertible bonds via rights offering

By Angela McDaniels

Seattle, April 6 - Reinecke + Pohl Sun Energy AG plans to issue up to €30 million of convertible bonds through a rights offering, according to a company news release.

Shareholders will be granted indirect subscription rights to purchase the convertibles via the VEM Aktienbank AG in Munich, Germany. Rights will not be tradable.

Proceeds will be used to expand the company's presence in Spain, to fund acquisitions and to fund the preliminary financing of recently concluded long-term module supply agreements with China-based Baoding Yingli and Thailand-based Bangkok Solar.

Hamburg, Germany-based Reinecke + Pohl Sun Energy plans, installs and sells photovoltaic facilities.

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