New syndicated banking loan of 294 million euros securing the refinancing of its credit lines until 2026

New syndicated banking loan of 294 million eurossecuring the refinancing of its credit lines until 2026Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player in renewable energies, announces the signing, on July 26, 2024, of a newcorporateloan of 294 million euros with a consortium of 15 banks. This credit facility is currently being syndicated. It will increase its total amount beyond 294 million euros. It complements the other corporate syndicated loans,...

paris, 29/07/2024 (informazione.news - comunicati stampa - economia)

New syndicated banking loan of 294 million euros
securing the refinancing of its credit lines until 2026

comments Sébastien Clerc, Chief Executive Officer of Voltalia.

The 294 million euros syndicated financing, with a maturity of 5 years, extendable to 7 years, is composed of a revolving credit facility of 176.4 million euros and a term loan of 117.6 million euros. The revolving credit benefits from a swingline and the term loan can be activated for a maximum period of two years, making their use more flexible.

This new financing consolidates the Group's financial flexibility, for example by making it possible to accelerate the construction of new power plants without waiting for the finalization of the financing of very long-term projects. In addition, it will contribute as much as necessary to the repayment of the convertible bonds issued in 2021 and 2022 when they mature in 2025, for a total of 250 million euros.

This funding finances activities contributing to climate change mitigation, in line with the EU taxonomy and aligned with decarbonisation objectives. The interest rate of this "impact" financing is subsidized if the following extra-financial performance objectives are achieved: occupational health and safety performance, reduction of CO emissions and co-use of land. As a Mission-driven company, Voltalia wants its stakeholders, particularly banks, to support its extra-financial objectives.

The banking consortium is composed of fifteen bank partners:

CACIB is the Documentation Agent, BNP Paribas is the Sustainability Coordinator and Natixis is the Facility Agent.

Voltalia was advised on this transaction by King & Spalding and Redbridge Debt & Treasury Advisory. The lenders were advised by Ashurst.

Next meeting: Half-year results 2024 , September 5, 2024 (before market opens)

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