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Share Price: 326.40

Bid: 326.00

Ask: 326.20

Change: 0.00 (0.00%)

Spread: 0.20 (0.061%)

Open: 0.00

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NextEnergy Solar leverage levels in line with company policy

Tue, 16th Apr 2024 09:32

(Alliance News) - NextEnergy Solar Fund Ltd on Tuesday announced it had refinanced an existing short-term revolving credit facility.

The London-based renewable energy investment company refinanced a GBP135 million credit facility which was originally due to expire in June. The agreement with AIB Group PLC and NatWest Group PLC, plus new lender, Lloyds Banking Group PLC, will now be available until June 2026, giving NextEnergy Solar the flexibility to pursue investments and make repayments.

In addition, NextEnergy Solar said it is on track to exercise its option to extend a GBP70 million credit facility with Banco Santander SA for an additional 12 months until June 2025.

NextEnergy Solar adheres to a gearing policy limit of up to 50% of its gross asset value, it noted.

As at December 31, NextEnergy Solar had drawn GBP163 million from its available GBP205 million in credit facilities. Gearing was at 46%.

NextEnergy Solar shares were up 0.6% to 72.05 pence each in London on Tuesday morning.

By Elijah Dale, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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29 Jan 2024 10:22

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28 Jan 2024 19:32

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25 Jan 2024 10:36

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25 Jan 2024 10:05

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23 Jan 2024 12:37

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29 Dec 2023 12:03

IN BRIEF: RBS International chief buys GBP135,000 in NatWest shares

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UK banks face 'step change' rule to reimburse defrauded customers

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19 Dec 2023 15:11

UK banks face 'step change' rule to reimburse defrauded customers

LONDON, Dec 19 (Reuters) - Britain's banks must reimburse defrauded customers to a maximum of 415,000 pounds ($529,000) from October next year to help combat scams, the Payment Systems Regulator (PSR) said on Tuesday.

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