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Project Finance £10.7m investment

03 November 2015 13:27

Project Finance Investments has completed the subscription for loan notes with a term of c.15 years and a value of £10.7m. The yield on the loan note is c. 7.8% per annum, payable quarterly in arrears.

The loan note was issued by Project Finance Investments (UK) Limited, a wholly owned subsidiary of the company.

The proceeds of the loan note were used to provide project finance to an operations and maintenance company active in the UK renewable energy market.

The loan is secured on a senior basis against the receivables of the O&M Co under 27 underlying contracts governing the operation and maintenance of renewable energy installation.

All payments of both principal and interest in relation to the O&M Co loan are expected to be serviced from contracted income arising from the O&M contracts.

The acquisition of the loan note has been financed fully from the gross proceeds of the company's recent IPO.

At 1:27pm: (LON:PROJ) Project Finance Investments Ltd Ord Npv share price was +0.5p at 102.5p

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