CEE receives further capital commitment of EUR 115 million for investments in renewables

Ham­burg, 20 July 2015 – The CEE Group has issued its first reg­is­tered bond, which was suc­cess­ful­ly placed. A large Ger­man insur­er sub­scribed for the entire EUR 40 mil­lion bond. The trans­ac­tion was based on the BBB invest­ment grade rat­ing assigned to CEE Hold­ing by the inde­pen­dent agency Cred­itre­form Rat­ing. Through its par­ent, the invest­ment com­pa­ny Lampe Equi­ty Man­age­ment (LEM), CEE is owned by Bankhaus Lampe. In issu­ing this reg­is­tered bond, the CEE Group has opt­ed for a pre­vi­ous­ly unused method of debt fund­ing to place its fund­ing struc­ture on a broad­er basis.

Inde­pen­dent­ly of the reg­is­tered bond, the CEE Group has also report­ed a fur­ther fund­ing suc­cess. A large Ger­man pen­sion fund has closed the third EUR 75 mil­lion sub-fund for CEE. Fur­ther sub-funds are already in the plan­ning stage. The cap­i­tal raised – EUR 115 mil­lion in total – is to be used to acquire new solar and wind pow­er projects in Europe.

“The fact that, with­in a short peri­od, we suc­cess­ful­ly placed our first reg­is­tered bond and closed a fur­ther sub-fund demon­strates the enor­mous trust that investors have in the CEE Group and its port­fo­lio,” explains Detlef Schreiber, the CEE of CEE and LEM. “Renew­ables remain one of the most attrac­tive invest­ment oppor­tu­ni­ties in alter­na­tive assets. CEE there­fore plans to grow fur­ther in this new asset class.”

The CEE Group man­ages a port­fo­lio with EUR 1 bil­lion of assets. With a port­fo­lio size of more than 400 megawatts in renew­ables, it is one of the largest inde­pen­dent pro­duc­ers of green elec­tric­i­ty in Ger­many.