UGE Provides Update on Project Green Bond Offering
Toronto, Oct 2, 2018 (Issuewire.com) - UGE International Ltd. (the “Company” or “UGE”) (TSX VENTURE: UGE), a leader in renewable energy solutions for the commercial and industrial sector, is pleased to provide an update on its project green bond (“Project Bond”) offering previously announced by press release on July 30, 2018 (the “Bond Offering”).
The Company has received an extension to file final materials with the TSX Venture Exchange and expects to close the Bond Offering within the next 30 days. The Project Bonds will be used to finance solar projects developed by UGE and will be secured by projects to be owned by UGE indirectly through its subsidiaries. Each Project Bond accrues interest at a rate of 7% per annum, maturing on the date that is 60 months from the date of issuance.