Atlantica Sustainable Infrastructure plc 116 0 Kommentare

Atlantica Refinances its Helios Assets with a €326 bond

August 3, 2020 – Atlantica Sustainable Infrastructure plc (NASDAQ: AY) (“Atlantica”), the sustainable infrastructure company that owns a diversified portfolio of contracted assets in the energy and environment sectors, announced today the refinancing of its Helios assets in Spain.

Atlantica has entered into a non-recourse, project debt financing for approximately €326 million in Helios 1/2 , two solar plants with a total installed capacity of 100 MW. The new debt has been used to repay the previous bank project debt with approximately €250 million outstanding and to cancel legacy interest rate swaps. With this refinancing, Atlantica is achieving an improvement in cost (1.9% per annum versus approximately 4.2% in the previous financing) and tenor (17-year maturity versus 7 year in the previous financing).

"With this financing, Atlantica is able to continue to diversify its financing sources", said Francisco Martinez-Davis, CFO of Atlantica.

After transaction costs and cancelation of legacy swaps, net refinancing proceeds (net “recap”) were approximately $30 million. Atlantica intends to use the net proceeds to finance its growth plan.

The notes were privately placed with a combination of European and US institutional investors and are guaranteed by Assured Guaranty Europe S.A. As a result of Assured Guaranty’s wrap, the notes are rated AA by S&P Global Ratings.

Cantor Fitzgerald Europe acted as sole bookerunner and placement agent.

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Assured Guarantee Europe SA’s legal advisers on the transaction were Clifford Chance LLP.

The Issuer was advised by Watson Farley & Williams Spain, S.L.P

About Atlantica

Atlantica Sustainable Infrastructure plc is a sustainable infrastructure company that owns a diversified portfolio of contracted renewable energy, efficient natural gas, electric transmission and water assets in North and South America, and certain markets in EMEA (www.atlantica.com).