Atrato Onsite Energy PLC New Revolving Credit Facility (1973L)
04 Septiembre 2023 - 1:00AM
UK Regulatory
TIDMROOF
RNS Number : 1973L
Atrato Onsite Energy PLC
04 September 2023
4 September 2023
LEI: 213800IE1PPREDIIZB62
Atrato Onsite Energy plc
(the "Company")
NEW REVOLVING CREDIT FACILITY
Atrato Onsite Energy plc (LSE: ROOF), the investment company
focusing on clean energy generation, is pleased to announce that it
has arranged a GBP30.0 million Revolving Credit Facility ("RCF")
with NatWest Bank.
The GBP30.0 million secured, interest only RCF has an initial
three-year term and a one-year extension option at a margin of
1.30% over SONIA. The RCF also includes a GBP20.0 million
uncommitted accordion option which is exercisable at any time over
the initial term.
Gurpreet Gujral, Managing Director of Atrato Partners , the
Investment Adviser to Atrato Onsite Energy plc , said:
"This new Revolving Credit Facility will underpin the next stage
of the Company's growth, providing the financial flexibility to
capitalise on its significant pipeline of opportunities.
"The attractive margin of 1.30% reflects the Company's highly
contracted income and low sensitivity to wholesale power
prices."
Alex Jones, Director of Infrastructure and Project Finance at
NatWest Group, said:
"We are absolutely delighted to have been able to support Atrato
Onsite Energy plc, one of the largest investors in commercial
rooftop solar in the UK, with its first revolving credit
facility.
"NatWest Group has committed to providing GBP100.0 billion of
funding by 2025 to support the UK's transition to a net-zero
economy and this investment represents another step forward in our
aim to help businesses reduce their carbon emissions and take
advantage of the growth opportunities associated with a low carbon
economy."
ENQUIRIES
Atrato Partners
Gurpreet Gujral
Christopher Fearon +44 (0)77 959 75560
Berenberg
Gillian Martin
Ben Wright
Dan Gee-Summons +44 (0)20 3207 7800
Kaso Legg Communications atrato@kl-communications.com
Charles Gorman +44 (0)20 3995 6673
Charlotte Francis
Notes to Editors
Atrato Onsite Energy plc (LSE: ROOF) is an investment company
specialising in clean energy generation with 100% carbon
traceability. The Company focuses on UK commercial solar, helping
its corporate clients achieve net zero and reduce their energy
bills.
The Company aims to provide investors with attractive capital
growth and long dated, index-linked income, targeting a 5% dividend
yield and a NAV total return of 8 - 10%(1) . Its shares were
admitted to trading on the premium segment of the Main Market of
the London Stock Exchange on 23 November 2021. Atrato Partners
Limited is the Company's Investment Adviser.
Further information is available on the Company's website,
www.atratoroof.com .
(1) There is no certainty that these targets will be
achieved.
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END
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