Efficient Capital Access and Deployment Meet a Robust Market for Sustainable Projects
RROYF recently completed a green bond raise, which is a unique investment instrument aligned with sustainable goals set by the United Nations. The company has raised a five-year senior secured C$18 million bond at a 9% coupon with quarterly interest payments, its third and largest raise so far, taking the YTD raise to C$40 million. RROYF benefits from an "ESG discount" that reduces its cost of capital and provides a great yield for bond investors. Capital raised through green bonds is used to fund sustainability projects on a royalty basis. RROYF provides short-term bridge financing, attaches a long-term royalty to the project, and recycles the capital to create more royalty streams and a high return on invested capital. The recent credit crunch has affected the company's borrowing costs, but it has been able to pass this cost down to its clients. It has found opportunities in leveraging investment tax credits and government incentives to fill any gaps caused by the credit crunch... This report contains a transcript of the fireside chat from April 27, 2023, which can be accessed on demand.
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