Revolving Credit Facility

RNS Number : 5769J

Bluefield Solar Income Fund Limited

13 June 2014

 



13 June 2014

BLUEFIELD SOLAR INCOME FUND LIMITED

Revolving Credit Facility

Bluefield Solar Income Fund Limited (the "Company") is pleased to announce that a revolving acquisition facility has been agreed with Royal Bank of Scotland plc.

The three-year facility, for up to £50 million, including a working capital element, will provide the Company with a flexible source of funding to make additional acquisitions of solar energy assets in the UK. The facility is secured against the existing Company assets and the margin over LIBOR is 225bps with the maximum ratio of loan to net assets being 35%.

Enquiries:

James Armstrong / Mike Rand / Giovanni Terranova

Bluefield Partners LLP - Company Investment Adviser

Tel: [phone]

Tod Davis / David Benda

Numis Securities Limited - Company Broker

Tel: [phone]

Kevin Smith

Heritage International Fund Managers Limited - Company Secretary & Administrator

Tel: [phone]

Note to editors

About Bluefield Solar Income Fund Limited (BSIF)

BSIF is a Guernsey-registered investment company focusing on large scale agricultural and industrial solar assets. It raised gross proceeds of £130 million in July 2013 through an initial public offering of shares on the main market of the London Stock Exchange. It raised a further £13 million in February, 2014 in an oversubscribed placement.

BSIF seeks to provide shareholders with an attractive return, principally in the form of semi-annual income distributions, by investing in a diversified portfolio of solar energy assets, each located within the UK, with a focus on utility scale assets and portfolios on greenfield, industrial and/or commercial sites.

About Bluefield Partners LLP (Bluefield)

Bluefield was established in 2009 as a specialist investor into solar energy. Bluefield's team has a proven track record in the selection, acquisition and management of large scale energy and infrastructure assets in the UK and Europe.

 

The managing partners have been involved in over £350m of solar photovoltaic funds and/or transactions in both the UK and Europe since 2008, including over £185 million in the UK since December 2011. Bluefield has led the acquisitions, and currently advises on, over 50 UK based solar assets.

 

Bluefield was appointed Investment Adviser to the Company in June 2013.

 

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