“Symbiotics launched two Green Bonds of USD 17 million in Africa with Sun King” – Symbiotics – June 21, 2022

In a press release distributed on June 21, 2022 Symbiotics reported that it has “ arranged two Green Bonds for a total of USD 17 million for Sun King (former Greenlight Planet INC), one of the largest solar companies in Africa and Asia, to deliver off-grid energy technologies to households across the two continents.

With the issuance of these Green Bonds, Sun King showcases its ability to align with the accepted International Capital Market Association Green Bond Principles or Sustainability Bond Guidelines (ICMA GBP), increasing the attraction of international financiers.

The green projects that will be financed  belong to the renewable energy category, in particular solar kits.

‘With the issuance of these Green Bonds, we are excited to contribute to the transformation of the clean energy sector and to continue supporting African and Asian households in the fight against climate change,’ said Duncan Frayne, Symbiotics Regional Director for Sub-Saharan Africa Markets.

The issuance of these Green Bonds are a testament of Sun King’s successful journey towards delivering sustainable and affordable energy solutions for underserved communities. We thank Symbiotics and all the investors for their critical contribution towards a global transformation in the way we provide electricity to consumers,” stated Krishna Swaroop, Sun King Global Chief Financial Officer.

These Green Bonds are issued via Symbiotics sponsored bond issuance platform (Micro, Small & Medium Enterprises Bonds S.A.) under its Sustainable Bond Framework, which was certified in December 2019 and November 2021 by DNV GL.  The bond is listed on the Securities Official List of the Luxembourg Stock Exchange and displayed on the Luxembourg Green Exchange, in the Green Bond section.”

The following SDGs 3, 7, 8, 9, 11 and 12 are promoted with these bonds.

You may read the press release on the news page of the Symbiotics internet site.