Ecofin US Renewables Infrastr.Trust Revolving Credit Facility (4503P)
19 Octubre 2021 - 01:00AM
UK Regulatory
TIDMRNEW
RNS Number : 4503P
Ecofin US Renewables Infrastr.Trust
19 October 2021
19 October 2021
ECOFIN U.S. RENEWABLES INFRASTRUCTURE TRUST PLC
Revolving Credit Facility
The Board of Ecofin U.S. Renewables Infrastructure Trust PLC
("RNEW" or the "Company") is pleased to announce that its
wholly-owned U.S. subsidiary, RNEW Capital, LLC, has entered into a
$65 million secured revolving credit facility ("RCF") with KeyBank,
one of the premier lenders to the U.S. renewable energy
industry.
The RCF comprises a $50 million, two year facility priced at
LIBOR plus 1.75% and a $15 million, three year facility priced at
LIBOR plus 2.00%. The RCF also includes an accordion option which
provides access to an additional $20 million of capital which can
be accessed subject to certain conditions. This substantial
commitment with attractive pricing and terms reflects the high
quality renewable energy assets with long term revenue contracts
held by RNEW.
Jerry Polacek, Managing Director and Group Lead at Ecofin
Advisors, LLC, said:
"We are pleased to expand our relationship with KeyBank through
this well-structured revolving credit facility that provides
tremendous operating flexibility to facilitate RNEW's growth. We
anticipate utilizing the RCF imminently, in part, to close on
RNEW's committed pipeline of approximately $50 million and an
additional $61 million of investments under exclusivity. RNEW's
actionable near-term pipeline also includes an additional $171
million of wind and solar deals with long term revenue contracts
where bids have been submitted. "
Andy Redinger, Managing Director and Group Head of Utilities,
Power & Renewable Energy at KeyBanc Capital Markets, said:
"We could not be more excited on the closing RNEW's inaugural
corporate revolver. Our long-term relationship with Ecofin and
RNEW's management team uniquely positioned Key to provide this
important source of capital. "
For further information, please contact:
Ecofin Advisors, LLC (Investment Manager)
Jerry Polacek
Matthew Ordway
Prashanth Prakash +1 913 981 1020
Stifel (Corporate Broker)
Mark Bloomfield
Nick Donovan +44 207 710 7600
PraxisIFM Fund Services (UK) Limited (Company
Secretary)
Martin Darragh
Maria Matheou +44 204 513 9260
FTI Consulting (Financial PR)
Matthew O'Keeffe
Mitch Barltrop
Vee Montebello +44 797 607 5797
Further information on the Company can be found on its website
at
https://uk.ecofininvest.com/funds/us-renewables-infrastructure-trust-plc/
.
The Company's LEI is 2138004JUQUL9VKQWD21.
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END
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