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Good Energy corporate bond issue exceeds £5m target

Good Energy's chief executive Juliet Davenport
Good Energy’s chief executive Juliet Davenport

Renewable electricity supplier Good Energy 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 percent 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 percent 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, said: “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.”