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NextEnergy refinances short-term debt

08 July 2016 07:17

NextEnergy Solar Fund (NESF) has confirmed the closing of a debt facility of £21.7m with NIBC Bank NV.

The NIBC Facility has been drawn down to refinance the existing debt of £22.7m with NIBC which was used to finance the acquisition of NESF's Cock Hill (20.0MW) and Llwyndu (8.0MW) projects in July 2015.

The NIBC Facility extends the tenure of the existing debt for an additional three years and matures in July 2019.

NESF current gearing is 46% in terms of debt outstanding vs. Gross Asset Value (which is equal to NAV as of 31 March 2016 plus current debt outstanding of £228.6m). Story provided by StockMarketWire.com

Related Company: NESF

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