Extension of Credit Facilities

RNS Number : 6556Y

NextEnergy Solar Fund Limited

19 May 2016

 

19 May 2016

NextEnergy Solar Fund Limited (the "Company" or "NESF")

Extension of Credit Facilities

Highlights

·     Increase of Revolving Credit Facility (the "RCF") from £100.0 million to £120.0 million

·     RCF designed to fund solar power plant acquisitions

·     Term of new RCF tranche of £20 million to May 2017 with the option to extend to November 2017

·     Secured debt facilities totalling £243.1 million, of which £216.6 million currently drawn

NESF is pleased to announce the increase of its RCF with Macquarie Bank and Santander from £100.0 million to £120.0 million.  The new facility of £20.0 million matures in May 2017 with NESF's option to extend to November 2017.

The increased RCF will provide flexibility to NESF to acquire further solar power plants from its pipeline of opportunities.

The Company also has options to extend £31.5 million of the pre-existing RCF of £100 million from September 2016 to March 2017 and the remainder of £68.5 million from December 2016 to May 2017.

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 £285.4m since its initial public offering on the main market of the London Stock Exchange in April 2014.  It also has credit facilities of £243.1m in place (Macquarie and Santander: £120m, MIDIS: £55.0m, Bayersiche Landesbank: £45.4m and NIBC: £22.7m). 

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.

Further information on NESF, NEC Group and WiseEnergy is available at www.nextenergysolarfund.com, www.nextenergycapital.com and www.wise-energy.eu.

 

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