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    Friday, October 02, 2009

    Report: Renewable Energy Issues Convertible Bond

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      Norwegian solar energy company Renewable Energy (REC) announced Friday that it will issue a convertible bond worth 300 Euro or $436 million, according to reports.

      The bond will be available to institutional investors and will help improve the company's financial position, according to MarketWatch.

      The bond will mature in June of 2014 and is expected to have a coupon rate ranging between 6% and 6.5%, with a conversion premium ranging between 30% and 35%, MarketWatch reported.

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