News

Impax Environmental Markets Announces Issuance of €60 Million Notes

1 Mins read

London, Sept. 3, 2020 – Impax Environmental Markets, a London-listed environmental investment trust, revealed on Thursday that it has successfully issued privately placed notes, raising €60 million ($67.2 million). The proceeds from this issuance will be utilized to repay existing debt and provide additional structural debt.

Notes Issued to Pricoa Private Capital

Impax Environmental Markets has issued three sets of notes to funds managed by Pricoa Private Capital, a subsidiary of PGIM, Inc. These notes have a funding date of September 1 and will bear interest semi-annually. The tranches consist of €20 million, €30 million, and €10 million, with maturity dates in September of 2030, 2033, and 2035 respectively.

Purpose of the Proceeds

The €60 million raised through this issuance will be primarily used to repay existing debt totaling $32.2 million and £25 million ($32.4 million), which was provided by the Bank of Nova Scotia and is due on September 6.

Strategic Impact

Chair Glen Suarez expressed his positive outlook on the financing, stating that it provides the company with attractive long-term debt capital for the benefit of shareholders. He further emphasized that this financing aligns with the current portfolio valuation and serves as a means of optimizing the company’s leverage.

Stock Performance

Impax Environmental Markets’ shares were trading at 416.0 pence as of 0751 GMT, reflecting a modest decline of 0.2% or 1.0 pence.

Related posts
News

N. Korean tech workers faked IDs for overseas defense jobs

1 Mins read
N. Korean tech workers faked IDs for overseas defense jobs. April. 03, 2025 07:50. by 남혜정기자 [email protected]. North Korean cyberattacks involving the…
News

School curriculum resources to teach children about risks of in-game purchases

3 Mins read
The Oak National Academy – an arm’s length body to help schools deliver curriculum content – has launched a package of teaching…
News

Endeavour Silver is Producing First Batch of Concentrate at the Terronera Mine; Remains on Track for Wet Commissioning in Early Q2

3 Mins read
VANCOUVER, British Columbia, March 31, 2025 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) provides a…

Leave a Reply

Your email address will not be published. Required fields are marked *

74 − = 64