Solaris Pons Issues Mini Bonds Amounting to Seven Million Euros

Privredna banka Zagreb, part of the Intesa Sanpaolo Foreign Banks Sector, acted as the sole issuance agent and investor in the corporate bond issuance of Solaris Pons amounting to seven million euros.

According to the statement, Solaris Pons is the sixtieth PBZ issuer of equity or debt securities and the eighth issuer within the Minibond initiative, supported by the Corporate Banking, SME, and Small Enterprises Department of Intesa Sanpaolo. Including this mini bond issuance, the total amount of mini bonds issued so far amounts to 45 million euros.

BDO Consulting participated as the financial advisor to the issuer in the transaction.

This transaction marks the first issuance of mini bonds in which 100 percent of the amount will be used for renewable energy. Solaris Pons was founded in 2013 in Osijek. The company has proven itself over the past decade with more than 1,100 completed solar power projects, producing over 45 GWh of renewable energy. In addition to solar power plants, in recent years, the focus has also been on battery energy storage systems and the construction of a network of charging stations for electric vehicles, all according to the strategy and plan for the future development of the company.

The contract was signed by Jurica Gorup, owner and director of Solaris Pons, and Vedrana Jelušić Kašić, member of the Management Board of PBZ.

– The vision of Solaris Pons is to become a modern energy entity, that is, a company that vertically integrates energy activities of production, aggregation, storage, and supply of electricity. The funds raised through the issuance of mini bonds will be used to increase our own production capacities, that is, to build new solar power projects, all as preparation for a modern electricity supply service based on green energy sources, aggregation, and energy storage projects that we already have in development. We are excited to be part of the growing group of Croatian small and medium-sized enterprises that are taking advantage of the minibond initiative. This bond issuance represents a key milestone in driving our growth, especially through investments in new solar power plants. The money obtained from this issuance will be used for investments in more than 23 MW p.a. of new solar energy production. We thank PBZ and the Intesa Sanpaolo Group, as well as our reliable advisors from BDO for their support and guidance throughout the entire process, said Jurica Gorup, owner and director of Solaris Pons.

– The successful issuance of mini bonds by Solaris Pons highlights the importance of alternative financing for our small and medium-sized enterprises striving for growth and development. We are pleased with the further development of the Solaris Pons group, which holds a leading position in the field of solar energy supply with more than 1,100 projects in the public and private sectors of the Republic of Croatia, and we are glad that the funds are intended to strengthen local sources and capacities of renewable energy, said Vedrana Jelušić Kašić, member of the Management Board of PBZ responsible for the area of business with medium and large enterprises and investment banking.

Let us remind you, mini bonds have recently become a hit alternative to loans. So far, they have been issued by companies such as Yellow Submarine, Viator, Rijekatekstil, Vincek, and Texo Molior. The largest issuance was placed by Viator, whose bonds amount to as much as ten million euros.