New syndicated banking loan of 294 million euros securing the refinancing of its credit lines until 2026
30 July 2024 - 2:33AM
UK Regulatory
New syndicated banking loan of 294 million euros securing the
refinancing of its credit lines until 2026
New syndicated banking loan of 294
million euros
securing the refinancing of its credit lines until
2026
Voltalia (Euronext Paris, ISIN code:
FR0011995588), an international player in renewable energies,
announces the signing, on July 26, 2024, of a new
corporate loan of 294 million euros with a
consortium of 15 banks. This credit facility is currently being
syndicated. It will increase its total amount beyond 294 million
euros. It complements the other corporate syndicated loans,
providing Voltalia with additional resources, to contribute to its
development and the refinancing of its convertible bonds.
« This new syndicated bank loan extends the
average maturity of our corporate financing and strengthens our
financial flexibility to support growth. This operation
demonstrates the trust of our banking partners, old and new, whom
we warmly thank. This is an "impact" financing whose cost will be
linked to the achievement of extra-financial objectives that we
announced in September 2023 as a Mission-driven company »,
comments Sébastien Clerc, Chief Executive Officer of Voltalia.
The 294 million euros syndicated financing, with
a maturity of 5 years, extendable to 7 years, is composed of a
revolving credit facility of 176.4 million euros and a term loan of
117.6 million euros. The revolving credit benefits from a
swingline and the term loan can be activated for a maximum
period of two years, making their use more flexible.
This new financing consolidates the Group's
financial flexibility, for example by making it possible to
accelerate the construction of new power plants without waiting for
the finalization of the financing of very long-term projects. In
addition, it will contribute as much as necessary to the repayment
of the convertible bonds issued in 2021 and 2022 when they mature
in 2025, for a total of 250 million euros.
This funding finances activities contributing to
climate change mitigation, in line with the EU taxonomy and aligned
with decarbonisation objectives. The interest rate of this "impact"
financing is subsidized if the following extra-financial
performance objectives are achieved: occupational health and safety
performance, reduction of CO2 emissions and co-use of
land. As a Mission-driven company, Voltalia wants its stakeholders,
particularly banks, to support its extra-financial objectives.
The banking consortium is composed of fifteen
bank partners:
- BNP Paribas, CACIB, Mizuho bank, Paris Branch and Natixis as
Mandated Lead Arrangers and Bookrunners.
- Piraeus Bank, as Mandated Arranger.
- Arkéa, CIC, La Banque Postale, Goldman Sachs, Caisse Régionale
de Crédit Agricole Mutuel de Paris et d'Ile de France, Banque
Palatine, BRED Banque Populaire, Caisse d'Epargne et de Prévoyance
de Bourgogne Franche-Comté, Caisse d'Epargne et de Prévoyance
Ile-de-France, Caisse d'Epargne et de Prévoyance Loire-Centre as
Arrangers.
CACIB is the Documentation Agent, BNP Paribas is
the Sustainability Coordinator and Natixis is the Facility
Agent.
Voltalia was advised on this transaction by King
& Spalding and Redbridge Debt & Treasury Advisory. The
lenders were advised by Ashurst.
Next meeting: Half-year results
2024, September 5, 2024 (before market opens)
|
About Voltalia
(www.voltalia.com) |
Voltalia is an international player in renewable energies. The
Group produces and sells electricity from its wind, solar, hydro,
biomass and storage facilities. It has 3.1 GW of capacity in
operation and under construction, and a portfolio of projects under
development with a total capacity of 16.6 GW.
Voltalia is also a service provider, supporting its renewable
energy customers at every stage of their projects, from design to
operation and maintenance.
A pioneer in the business market, Voltalia offers a comprehensive
range of services to businesses, from the supply of green
electricity to energy efficiency services and the local production
of its own electricity.
With more than 1,850 employees in 20 countries on 3 continents,
Voltalia has the capacity to act globally on behalf of its
customers.
Voltalia is listed on the Euronext regulated market in Paris
(FR0011995588 - VLTSA) and is included in the Enternext Tech 40 and
CAC Mid&Small indices. The company is also included in the
Gaïa-Index, the responsible mid-cap index. |
Voltalia
Email: invest@voltalia.com
T. +33 (0)1 81 70 37 00 |
Press Relations Seitosei.Actifin - Jennifer Jullia
jennifer.jullia@seitosei-actifin.com
T. +33 (0)1 56 88 11 19 |
- New syndicated banking loan of 294 million euros securing the
refinancing of its credit lines until 2026
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