MUFG Bank, Ltd., (MUFG) has provided a AUD140 million (US$102 milion) 'Samurai' refinancing loan for the 131 MW Waterloo Wind Farm in South Australia.
Under the terms of the refinancing, MUFG has been appointed sole mandated lead arranger, underwriter, bookrunner and swap provider for the term loan facility which will be syndicated to a group of Japanese banks (hence the ‘Samurai’ name).
The tenor of the newly refinanced facilities is more than 11 years, which is significantly longer than the debt tenor typically offered or achieved in the commercial bank debt market for wind and solar farms in Australia.
The Waterloo Wind Farm is an operating wind farm located in South Australia. The facility has 43 Vestas wind turbines with an installed capacity of over 130MW, which generates enough clean energy to supply electricity to more than 50,000 homes, reducing greenhouse gas emissions by 335,000 tonnes annually. The wind farm commenced operation in November 2010.
Herbert Smith Freehills has advised MUFG Bank, Ltd., (MUFG) while KWM advised the sponsors Palisade Investment Partners and Northleaf Capital on the refinancing.
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