Payom Solar AG closes the emission of the Payom Energy Bond with immediate effect. Total Funds of approx. Euro 27.5 mill. have been subscripted. These funds provide the basis for investments into own PV plants as well as the company’s other business operations.

Payom Solar received sufficient funds to execute its business strategy, even with the situation of not reaching the maximum volume of the emission. Until today, the company doesn’t utilize other credit instruments for its operations, except project related, non-recourse financing for its own PV plants to improve the return on investment.

Claas Fierlings, Payom Solar’s CFO, shows his disappointment about the current valuation of the Energy Bond at Stuttgart stock exchange: “The board of management will evaluate whether a buyback of the bond is economically reasonable and possible for the company. The current evaluation imposes such question for us and others.”

In 2012, Payom Solar plans to add approx. 15 MW to its existing portfolio of 6.4 MW in own PV plants. “The operation and ownership of PV plants is an important part of our business strategy. Continuous and predictable cash-flows from these operations secure the payment of interest obligations under the bond”, explains Claas Fierlings.