|By Marketwired .||
|March 28, 2014 12:20 PM EDT||
GENEVA, SWITZERLAND -- (Marketwired) -- 03/28/14 -- Etrion Corporation ("Etrion" or the "Company") (TSX: ETX)(OMX: ETX), a solar independent power producer, announces closing of books for a new EUR 80 million secured bond in the Norwegian bond market. The new bond has an annual interest rate of 8.0% and matures in April 2019.
Net proceeds from the bond issue will be used to refinance the Company's existing EUR 60 million corporate bond that pays 9.0% annual interest and matures April 2015 with ISIN NO0010607302 ("ETRION01 PRO"), as well as for general corporate purposes.
Marco A. Northland, Etrion's CEO, commented: "We are very pleased once again with the strong interest shown by the Scandinavian capital markets. This bond issue allows us to refinance our existing corporate bond with a larger amount on a longer maturity at a lower interest rate. The incremental proceeds after the refinancing will be used to advance our project pipeline in Chile and Japan."
ABG Sundal Collier, Pareto Securities and Swedbank acted as joint lead managers for the bond issue.
Etrion Corporation is an independent power producer (IPP) that builds, owns and operates utility-scale solar power generation plants. Etrion owns 17 solar power plants in Italy with approximately 60 MW of installed capacity. The Italian operations generate more than USD 40 million of annual earnings before interest, taxes, depreciation and amortization (EBITDA). Etrion is also developing greenfield solar power projects in Chile and Japan. The Company is listed on the Toronto Stock Exchange in Canada and the NASDAQ OMX Stockholm exchange in Sweden under ticker symbol "ETX". Etrion's largest shareholder is the Lundin family, which owns approximately 24 percent of the Company's shares directly and through various trusts.
Etrion discloses the information provided herein pursuant to the Swedish Securities Market Act. The information was submitted for publication at 17:20 CET on Friday, March 28, 2014.
The information above is not intended for, and may not be distributed to or be published in, directly or indirectly, Australia, Hong Kong, Japan, New Zealand, South Africa, the United States, or any other jurisdiction where this would require registrations measures or would constitute a breach of law.
The information above does not contain or constitute an invitation or an offer to acquire, subscribe for, sell or otherwise trade in shares or other securities in the Company ("the securities"). Nor does it constitute a prospectus under the terms in Directive 2003/71/EC.
No securities are or will be registered in accordance with the U.S. Securities Act of 1933 ("Securities Act") or any provincial act in Canada or any legislation in Australia, Hong Kong, Japan, New Zealand or South Africa. The securities may therefore not, directly or indirectly, be sold, resold, offered for sale, delivered or spread within or to any of these jurisdictions, or to any person located there at that point of time or resident there, or on account of such person, and further not to or within any other jurisdiction where such measure would violate the laws of the jurisdiction or require registrations measures, other than in accordance with an applicable exemption. A failure to comply with this instruction may result in a violation of the Securities Act or laws applicable in other jurisdictions.
ABG Sundal Collier, Pareto Securities and Swedbank are acting for the Company and no one else in connection with the bond issue referred to herein (the "Private Placement") and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Private Placement and/or any other matter referred to in this announcement. ABG Sundal Collier, Pareto Securities and Swedbank accept no responsibility whatsoever and make no representation or warranty, express or implied, for the contents of this announcement, including its accuracy, completeness or verification or for any other statement made or purported to be made by it, or on its behalf, in connection with the Private Placement and nothing in this announcement is, or shall be relied upon as, a promise or representation in this respect, whether as to the past or future.
FORWARD LOOKING INFORMATION
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the anticipated completion of the Private Placement) constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions including, without limitation, the ability of the Company to obtain the approvals necessary to complete the Private Placement and the ability of the Company's financial advisors to arrange for subscribers to the Private Placement. Reliance should not be placed on forward-looking information. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the failure to obtain the required approvals necessary to complete the Private Placement, the failure to obtain subscribers to the Private Placement, unforeseen delays in completing the Private Placement in a timely manner, the occurrence of any material adverse change in the Company that could prevent the Private Placement from being completed in a timely manner, or if at all.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
+41 (22) 715 20 90
ABG Sundal Collier
+47 22 01 61 02
Tore B. Sandvik
+46 8 402 51 11
Einar U. Johansen
+47 23 23 80 61
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device acce...
Sep. 5, 2015 10:30 AM EDT Reads: 347
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
Sep. 5, 2015 10:15 AM EDT Reads: 2,063
Containers are not new, but renewed commitments to performance, flexibility, and agility have propelled them to the top of the agenda today. By working without the need for virtualization and its overhead, containers are seen as the perfect way to deploy apps and services across multiple clouds. Containers can handle anything from file types to operating systems and services, including microservices. What are microservices? Unlike what the name implies, microservices are not necessarily small,...
Sep. 5, 2015 10:00 AM EDT Reads: 240
In 2014, the market witnessed a massive migration to the cloud as enterprises finally overcame their fears of the cloud’s viability, security, etc. Over the past 18 months, AWS, Google and Microsoft have waged an ongoing battle through a wave of price cuts and new features. For IT executives, sorting through all the noise to make the best cloud investment decisions has become daunting. Enterprises can and are moving away from a "one size fits all" cloud approach. The new competitive field has ...
Sep. 5, 2015 09:45 AM EDT Reads: 263
Mobile testing is getting harder: more devices, multiple operating systems, higher quality expectations and shorter development cycles. In his session at DevOps Summit, Tom Chavez, Senior Evangelist at SOASTA, will discuss the seven steps to improving your mobile testing process. Tom Chavez, with 20+ years of experience as a product manager in software development tools, works in product management at SOASTA, the leader in performance analytics. He has worked across the Silicon Valley at indu...
Sep. 5, 2015 09:15 AM EDT Reads: 247
Even though you are running an agile development process, that doesn’t necessarily mean that your performance testing is being conducted in a truly agile way. Saving performance testing for a “final sprint” before release still treats it like a waterfall development step, with all the cost and risk that comes with that. In this post, we will show you how to make load testing happen early and often by putting SLAs on the agile task board.
Sep. 5, 2015 09:00 AM EDT Reads: 134
Manufacturing connected IoT versions of traditional products requires more than multiple deep technology skills. It also requires a shift in mindset, to realize that connected, sensor-enabled “things” act more like services than what we usually think of as products. In his session at @ThingsExpo, David Friedman, CEO and co-founder of Ayla Networks, will discuss how when sensors start generating detailed real-world data about products and how they’re being used, smart manufacturers can use the ...
Sep. 5, 2015 09:00 AM EDT Reads: 137
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
Sep. 5, 2015 09:00 AM EDT Reads: 168
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the ...
Sep. 5, 2015 09:00 AM EDT Reads: 1,688
Moving an existing on-premise infrastructure into the cloud can be a complex and daunting proposition. It is critical to understand the benefits as well as the challenges associated with either a full or hybrid approach. In his session at 17th Cloud Expo, Richard Weiss, Principal Consultant at Pythian, will present a roadmap that can be leveraged by any organization to plan, analyze, evaluate and execute on a cloud migration solution. He will review the five major cloud transformation phases a...
Sep. 5, 2015 08:45 AM EDT Reads: 157
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
Sep. 5, 2015 08:45 AM EDT Reads: 247
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
Sep. 5, 2015 08:30 AM EDT Reads: 1,675
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
Sep. 5, 2015 08:30 AM EDT Reads: 304
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes ab...
Sep. 5, 2015 08:00 AM EDT Reads: 778
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Trel...
Sep. 5, 2015 08:00 AM EDT Reads: 330