PNE AG Issues New Corporate Bond to Optimise Financing Structure

PNE AG has decided to issue a new corporate bond, continuing its strategic growth course and optimising its financing structure. The planned bond has a volume of up to EUR 65 million and a term from 18 June 2026 to 18 June 2031. The notes, each with a nominal value of EUR 1,000, will bear interest at a rate within a range of 6.750% to 7.750%. The final interest rate is expected to be determined on 11 June 2026. In the current market environment, this fixed-interest bond offers investors the opportunity to secure an attractive long-term return.

The issuance is being 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 aimed at both institutional investors and retail investors in Germany, Austria, and Luxembourg. The subscription period runs from 22 May 2026 to 10 June 2026 (6:00 p.m. CEST) via the PNE AG website and from 26 May 2026 to 11 June 2026 (12:00 p.m. CEST) via Deutsche Börse (subject to early closing of the offer period).

In addition, an exchange offer for holders of the existing 2022/2027 bond is planned, which also includes an option to purchase additional shares. The period for the voluntary exchange offer is expected to run from 22 May to 9 June 2026 (6:00 p.m. CEST). Bondholders who accept the exchange offer will receive one new 2026/2031 bond (ISIN: DE000A460J75) for each exchanged bond, plus a cash settlement amount of EUR 12.50 per 2022/2027 bond and any accrued interest. Participation in the exchange offer will be facilitated via the respective custodian bank.

With this issuance, PNE AG primarily aims to refinance the existing 2022/2027 bond at an early stage and to sustainably improve the maturity structure of its debt capital. “By issuing the bond, we are laying a solid foundation for realizing our growth opportunities,” says Heiko Wuttke, CEO of PNE AG. “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 was approved today by the Luxembourg financial supervisory authority, the Commission de Surveillance du Secteur Financier (CSSF). The prospectus is now 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 already the fourth bond issued by PNE AG over the past 13 years. As a listed company included in the SDAX, PNE AG not only has an established capital market profile with high transparency and broad analyst coverage but also a long track record as a bond issuer. 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.