NASSAU, BAHAMAS- Colina Financial Advisors Ltd. (CFAL) is facilitating a bond and equity offering for EA Energy, which aims to raise $132.5 million to fund the development of renewable energy plants on the islands of Abaco and Eleuthera. The offering will provide both debt and equity financing for the project and is set to open on Tuesday, April 1, 2025, and will close on Wednesday, April 16, 2025.
The corporate bonds offered will carry a semi-annual interest rate of 8 percent, with the first interest payment due on October 30, 2026. These bonds will mature on April 30, 2045. The initial offering will target institutional investors, such as pension and mutual funds, which provide access to investments for a broad range of investors. However, CFAL plans to roll out a retail offering for individual investors later in the second quarter, allowing them to invest $1,000 or more.
EA Energy is developing two separate power plants—one for each island—that will enhance the reliability and sustainability of electricity in Abaco and Eleuthera. These plants will use a combination of liquefied natural gas (LNG) and solar energy to meet the growing energy needs of the islands while promoting environmental sustainability.
