Voltalia signs EUR250mn syndicated credit facility
Voltalia has signed a new syndicated credit facility worth EUR250 million (US$268.3 million). This new loan line follows the 2019 and 2021 models by subsidizing interest rates based on Environmental, Social, and Governance (ESG) criteria.
BNP Paribas, CACIB, Natixis, Arkéa, Pireaus, La Banque Postale, CIC, and Goldman Sachs formed a syndicate to arrange the loan. The loan has a 5-year maturity that can be extended to 7 years and is comprised of a revolving credit facility (for two-thirds) and a term loan with a two-year draw period (for one-third). The loan also has an extension clause that permits the sum to be increased during its term.
This syndicated loan supplements the EUR170 million (US$182.4 million) from June 2021. It boosts Voltalia's financial flexibility for growth. It will pre-finance power plant construction before project funding. This strategy is particularly well-suited to Europe, where clients are willing to pay a premium for a swift project launch.
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