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JLEN credit facility extended

19 June 2017 07:36

John Laing Environmental Assets Group has signed a new three-year facilities agreement which provides for a committed revolving credit facility of £130m and an uncommitted accordion facility of up to £60m with HSBC, NIBC, ING and Santander.

JLEN said the agreement included an uncommitted option to extend for a further year.

It said the facility would replace the existing facility and give it an increased source of flexible funding outside of equity raisings at a lower cost.

JLEN said it would be used to make future acquisitions of environmental infrastructure projects to add to its current portfolio of wind, solar, waste and waste water processing assets, as well as covering any working capital requirements.

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