Deals this week: SMC Global Power Holdings, Atlantis Resources, Emerging Power

21 April 2016 (Last Updated April 21st, 2016 18:30)

SMC Global Power Holdings, a power generation subsidiary of San Miguel Corp, has filed a registration statement with Securities and Exchange Commission (Philippines) to raise up to PHP15bn ($324.34m) in a public offering of bonds.

EDP Renewables

SMC Global Power Holdings, a power generation subsidiary of San Miguel Corp., has filed a registration statement with Securities and Exchange Commission (Philippines) to raise up to PHP15bn ($324.34m) in a public offering of bonds.

The bonds will be issued in minimum denominations of PHP50,000 ($1,081.20) each and in multiples of PHP10,000 ($216.24) thereafter, at five, seven and ten-year tenors, at fixed-rates.

The company also plans to list these bonds on the Philippine Dealing & Exchange Inc.

Net proceeds from the offering will be used to refinance the company's short-term loan and for general corporate purposes.

Atlantis Resources Limited, a tidal power developer based in Singapore, has announced that it has raised approximately £6.54m ($9.38m) through the private placement of 11,888,460 of new ordinary shares at a price of 55 pence (78 cents) per share.

Net proceeds from the equity offering will be used by the company to offer financial support to its existing and planned projects.

Gonghe Xinte Photovoltaic Power Generation, a subsidiary of SPI Energy, has completed lease financing of CNY140m ($21.61m) to support the construction and development of the 20MW Gonghe Xinte solar power project in China.

China Kangfu International Leasing has provided the finance for a period of ten years.

Both the involved parties will leverage their strengths and work together to promote clean renewable energy projects in China.

"Nickel Asia agreed to provide a loan facility of $32.43m with a three-year term."

Emerging Power, a portable power solutions provider based in the US, will raise PHP660m ($14.27m) through a private placement, which will be subscribed to by Nickel Asia Corporation.

Nickel Asia has also agreed to provide a loan facility of PHP1.5bn ($32.43m) with a three-year term.

Net proceeds from the offering will be used for development of the first phase of a geothermal power plant owned by Emerging Power's subsidiary, Biliran Geothermal.

Vortex Energy Investments has announced that it will acquire 49% stake in a portfolio of onshore wind assets wholly owned by EDP Renewables Europe, a subsidiary of EDP Renovaveis, for a consideration of €550m ($621.56m).

The assets under the deal, with a combined installed capacity of 664MW, are located in Spain, Portugal, Belgium and France.

The transaction implies a deal value of $1.91m per megawatt and will be completed in the second quarter of 2016, subject to regulatory and other precedent conditions.


Image: Vortex Energy will acquire 49% stake in onshore wind assets of EDP Renewables Europe. Photo: courtesy of Shatabisha/Wikepedia.