PNE WIND : plans to issue a bond to finance the further development of the company

Corporate News

PNE WIND AG plans to issue a bond to finance the further development of the company

- Expected volume of EUR 50 million and a term of five years

- Exchange offer to holders of the 2013/2018 bond and public offer

- Coupon range for pricing from 4.000 to 4.750%

- Securing medium-term financing for portfolio development and strategy expansion

Cuxhaven, April 5, 2018 - The internationally operating project developer PNE WIND AG plans to place a corporate bond in the amount of approx. euro 50 million. After the placement, the bond will be traded on the OTC market of the Frankfurt Stock Exchange. The corporate bond, which will be issued in bonds with a nominal value of euro 1,000.00 each, has a term from May 2, 2018 to May 2, 2023. The interest margin is set at 4.00% to 4.75%, with the exact interest rate being determined during the offer period. IKB Deutsche Industriebank AG and M.M. Warburg & CO are acting as joint lead managers for this transaction.

The main objectives of this measure are the partial financing of the construction of the new European 2020 wind farm portfolio, the financing of investments to expand the value chain as well as the general financing of organic and inorganic growth of PNE WIND AG. At the same time, the bond, in particular by way of the exchange offer, is intended to partly serve to finance the repayment of the 2013/2018 bond, which is due on June 1, 2018.

Markus Lesser, CEO of PNE WIND AG: "We are in the process of establishing a new European wind farm portfolio with around 200 MW by 2020. We are also expanding our business model and developing into a Clean Energy Solution Provider - a provider of solutions for clean energy. With this new orientation, we will in future also position ourselves in photovoltaics, storage technologies and power-to-gas in addition to wind power. We intend to secure the financial resources for the implementation of these strategic measures at an early stage."

PNE Wind AG closed the 2017 financial year at the upper end of the forecast with a total output of euro 186.9 million and an operating result (EBIT) of EUR 23.1 million. The Group's equity increased to euro 235.2 million and the equity ratio was approx. 48 percent. Cash and cash equivalents totalled euro 194.0 million (prior year: euro 147.7 million). PNE Wind AG would like to take advantage of this positive operational development and the currently attractive market environment to secure corporate financing through the bond issue in the medium term and to optimise financing costs.

The offer consists of three parts. Under a public exchange offer, the holders of the 2013/2018 bonds (ISIN: DE000A1R0741) may exchange their bonds for the new bonds offered. In addition, the participants in the exchange offer have a multiple-purchase option and may subscribe for further bonds in excess of their holdings. For both the exchange offer and the multiple-purchase option, the period starts on April 6, 2018 and is expected to end on April 20, 2018 (6 p.m. CEST). Thereafter, the public offer with a subscription period from April 24, 2017 until April 25, 2018 (2 p.m. CEST) will follow. Both the exchange offer and the public offer may be terminated prematurely at any time in accordance with demand.

Institutional investors can subscribe directly via IKB Deutsche Industriebank AG or M.M.Warburg & CO as part of a private placement. Private investors in Germany and Luxembourg can place purchase orders via their house bank or custodian bank at the Frankfurt Stock Exchange. The inclusion of the bonds in the open market of the Frankfurt Stock Exchange is planned for May 2, 2018.

The prospectus was approved by the Luxembourg Financial Market Supervisory Authority "Commission de Surveillance du Secteur Financier" (CSSF) on April 6, 2018 and notified to the Federal Financial Supervisory Authority (BaFin). The prospectus is available for downloading on the website of PNE Wind AG (https://www.pnewind.com/investor-relations/anleihen/) of the Frankfurt stock exchange (www.boerse-frankfurt.de) and the Luxemburg stock exchange (www.bourse.lu).

Bond key data

About the PNE WIND Group

PNE WIND Group, a company operating on an international level with two brands, PNE WIND and WKN, is one of the most experienced project developers in the field of onshore and offshore wind farms. Based on this success, the Company has developed to become a "clean energy solutions provider." From initial site exploration and the approval procedure performance to financing and turn-key construction to operation and re-powering, the Company's services encompass all the phases for developing and operating wind farms: based on this strong position, we continue to develop. In addition to wind energy, in the future the Company's offer will include photovoltaic, electricity storage and power-to-gas technologies with a focus on hydrogen.

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