PEN Photon Energy increased its existing 7.75% bond 2017/2022 by additional EUR 7.5 million

The management board of Photon Energy N.V. (the 'Group') informs that it has successfully increased the Group's 7.75% corporate bond 2017/2022 by EUR 7.5 million to a total of EUR 37.5 million, corresponding to 25% of the previous bond volume.
The new notes were placed at 102% plus accrued interest in a private placement exclusively with institutional investors. The transaction was managed by Bankhaus Scheich Wertpapierspezialist AG, Frankfurt am Main, as the Sole Global Coordinator. The proceeds from the sale of the Suntop 1 project stake to Canadian Solar Inc. and the proceeds from the bond increase will enable the Group to pursue new market opportunities. The Group intends to use the net proceeds from the bond increase to finance further acquisitions and strengthen its financial power. The new notes are expected to be introduced at the Open Market of the Frankfurt Stock Exchange on 9 August 2019 under the existing ISIN.