PNE AG has announced the issuance of a new corporate bond, aiming to refinance its existing 2022/2027 bond and optimize its financing structure. The bond has a target volume of EUR 65 million and a term of five years, from 18 June 2026 to 18 June 2031. Each note has a nominal value of EUR 1,000 and will bear interest at a rate between 6.750% and 7.750%, with the final rate expected to be determined on 11 June 2026. The issuance is accompanied by IKB Deutsche Industriebank AG as sole lead manager and bookrunner and is to be included in the open market (Freiverkehr) of the Frankfurt Stock Exchange.
The offer is open to both institutional and retail investors in Germany, Austria, and Luxembourg. The subscription period runs from 22 May 2026 to 10 June 2026 via the PNE AG website and from 26 May 2026 to 11 June 2026 via Deutsche Börse, subject to early closing. In addition, an exchange offer is planned for holders of the existing 2022/2027 bond, which includes a cash settlement of EUR 12.50 per bond plus accrued interest. Bondholders who accept the exchange offer will receive one new 2026/2031 bond (ISIN: DE000A460J75) for each exchanged bond. Participation is facilitated through the respective custodian bank.
This issuance primarily aims to refinance the existing 2022/2027 bond early and improve the maturity structure of PNE AG’s debt capital. Heiko Wuttke, CEO of PNE AG, stated: “By issuing the bond, we are laying a solid foundation for realizing our growth opportunities. It enables us to continue allocating funds to the development of our project pipeline as well as to the interim financing of projects. This sustainably strengthens our room for manoeuvre in implementing our Focus & Deliver strategy. Bonds have been firmly established as a building block of our well-diversified bank and capital market financing structure since 2013.”
The securities prospectus has been approved by the Luxembourg financial supervisory authority, the Commission de Surveillance du Secteur Financier (CSSF), and is available for download on the PNE AG website (https://www.pnegroup.com/en/investor-relations/bond-2026/) and on the Luxembourg Stock Exchange website (www.bourse.lu).
This is the fourth bond issued by PNE AG over the past 13 years. As a listed company in the SDAX, PNE AG has an established capital market profile with high transparency and broad analyst coverage. The combination of project sales and a growing own portfolio ensures continuously increasing stability and quality of earnings. Since the last bond issuance, EBITDA from power generation has increased significantly, reflecting improved earnings quality.