Downing Renewables & Infrastructure Trust PLC - investor in solar parks, wind farms and hydroelectric plants - Enters loan agreement for GBP25 million revolving credit facility with Santander UK, which has a four-year term with the chance to be extended for a further year, and is priced at the SONIA plus 2.3%. Facility will go towards funding the acquisition of additional assets and meet capex requirements. In addition, company has entered a seven-year EUR43.5 million debt facility with Skandinaviska Enskilda Banken AB to refinance its Swedish hydro assets.
"We are pleased to expand our relationship with both Santander in the UK and SEB in Sweden. We're also delighted with the flexibility of both facilities which will accelerate the growth of the company. We anticipate initial drawdowns under the facilities in the near term to fund acquisitions," says Tom Williams, partner at Downing LLP.
Current stock price: 103.64 pence
Year-to-date change: up 3.6%
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Downing Renewa. (DORE)