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Enphase to issue $1bn senior notes

Californian microinverter maker Enphase Energy today announced it is planning a $1 billion issuance of senior notes.

The Fremont-based company said it would issue $500 million of convertible senior notes due to mature on March 1, 2026 and the same volume of investments to be settled two years later.

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Enphase said the proceeds would finance a hedge against possible dilution of stock value due to the issuance; a repurchase program related to the company’s 1%-interest-bearing 2024 notes and 0.25%, 2025 instruments; and general expenses.

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Source: pv magazine