NextEnergy Solar Fund Limited Refinancing of Short Term Debt Facility (6132D)
08 July 2016 - 4:00PM
UK Regulatory
TIDMNESF
RNS Number : 6132D
NextEnergy Solar Fund Limited
08 July 2016
NextEnergy Solar Fund Limited (the "Company" or "NESF")
Refinancing of Short Term Debt Facility
Highlights
-- Refinancing of existing debt facility with NIBC Bank N.V.
("NIBC") for GBP21.7 million ("NIBC Facility")
-- Term of new NIBC Facility to June 2019
-- Arranged debt facilities totalling GBP242.1 million, of which
GBP228.6 million currently drawn
NESF is pleased to announce the closing of a debt facility of
GBP21.7 million with NIBC. The NIBC Facility has been drawn down to
refinance the existing debt of GBP22.7 million with NIBC which was
used to finance the acquisition of NESF's Cock Hill (20.0MW) and
Llwyndu (8.0MW) projects in July 2015.
The NIBC Facility extends the tenure of the existing debt for an
additional three years and matures in July 2019.
NESF current gearing is 46% in terms of debt outstanding vs.
Gross Asset Value (which is equal to NAV as of 31 March 2016 plus
current debt outstanding of GBP228.6 million).
For further information:
NextEnergy Capital
Limited 020 3239 9054
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe 020 7894 7667
Sue Inglis
Shore Capital 020 7408 4090
Bidhi Bhoma
Anita Ghanekar
Macquarie Capital (Europe)
Limited 020 3037 2000
Ken Fleming
Nick Stamp
MHP Communications 020 3128 8100
Andrew Leach
Jamie Ricketts
Gina Bell
Notes to Editors:
NextEnergy Solar Fund (NESF)
NESF is a specialist investment company that invests in
operating solar power plants in the UK. Its objective is to secure
attractive shareholder returns through RPI-linked dividends and
long-term capital growth. The Company achieves this by acquiring
solar power plants on agricultural, industrial and commercial
sites.
NESF has raised equity proceeds of GBP285.4m since its initial
public offering on the main market of the London Stock Exchange in
April 2014. It also has credit facilities of GBP242.1m in place
(Macquarie and Santander: GBP120m, MIDIS: GBP55.0m, Bayersiche
Landesbank: GBP45.4m and NIBC: GBP21.7m).
NESF is differentiated by its access to NextEnergy Capital Group
(NEC Group), its Investment Manager, which has a strong track
record in sourcing, acquiring and managing operating solar assets.
WiseEnergy is NEC Group's specialist operating asset management
division, providing solar asset management, monitoring and other
services to over 1,250 utility-scale solar power plants with an
installed capacity in excess of 1.7 GW. NextPower II is NEC Group's
private equity fund with initial commitments of EUR150m, investing
in operating solar power plants and focused on consolidating the
substantial, highly fragmented Italian solar market.
Further information on NESF, NEC Group and WiseEnergy is
available at www.nextenergysolarfund.com, www.nextenergycapital.com
and www.wise-energy.eu.
This information is provided by RNS
The company news service from the London Stock Exchange
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